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first published week of: 01/05/2015
DigitalGlobe a leading global provider of commercial high-resolution earth observation and advanced geospatial solutions, today reported that, as a result of its annual satellite life review, it will extend the useful lives of two of its satellites: WorldView-1 and WorldView-2. The company has also assigned an initial useful life to its newest satellite, WorldView-3 that is slightly longer than the original use lives assigned to WorldView-1 and WorldView-2.
The extended use lives will drive improved capital efficiency, lower capital expenditures, and better cash flows for DigitalGlobe. WorldView-1 will be extended by 2.5 years to 13 years, a 24% lifespan improvement, and WorldView-2 will be extended two years to 13 years, an 18% lifespan improvement.
“We have now completed an extended period of investment in building out the world’s leading earth observation capability,” said Jeffrey R. Tarr, CEO of DigitalGlobe. “Extending the useful lives of our satellites will further reduce the capital required to sustain this unmatched capability over the long term. We expect this to result in a less capital intensive business model, improved free cash flow and returns, and improving shareholder value.”