Planet Labs signs $230 million deal to build satellites for Asian customer.

Satellite imagery firm Planet Labs said on Wednesday it signed a $230 million agreement to build satellites for an unnamed customer in the Asia-Pacific region, clinching its biggest contract yet as the company expands beyond data services.

The deal, to be paid over seven years and with the satellites poised for delivery in 2026, underscores Planet’s foray into the dedicated satellite services market after years of primarily offering customers imagery and other data collected by its own fleet of roughly 200 satellites.

Source: FINANCE.YAHOO