Google to buy Skybox

On Tuesday, Google announced it is buying Skybox Imaging. The company will help improve the Web giants maps.

Google said in a news release: "Skybox's satellites will help keep Google Maps accurate with up-to-date imagery. Over time, we also hope that Skybox's team and technology will be able to help improve Internet access and disaster relief — areas Google has long been interested in."

Skybox, based in Google's hometown of Mountain View, Calif., started out five years ago with the goal to "revolutionize access to information about the changes happening across the surface of the Earth."

"The time is right to join a company who can challenge us to think even bigger and bolder, and who can support us in accelerating our ambitious vision," Skybox said. "Skybox and Google share more than just a ZIP code. We both believe in making information (especially accurate geospatial information) accessible and useful. And to do this, we're both willing to tackle problems head on — whether it's building cars that drive themselves or designing our own satellites from scratch."

Google said it will pay $500 million to acquire Skybox.

The Wall Street Journal reported that Google plans on shelling out $1 billion to launch a fleet of satellites that will orbit the Earth in an effort to provide Internet access in under-served areas.