Lockheed sells EOSAT to affiliated company

Maryland Watch

November 14, 1996

Talk about your insider trading: A Lanham company owned by Lockheed Martin Corp. has been purchased by a Colorado company in which Lockheed Martin is a major investor.

Lanham-based EOSAT is the largest purveyor in the country of high-definition satellite images of the Earth. Its new parent is Space Imaging, of Thornton, Colo.

EOSAT employs about 90 people in Lanham, and company officials say those jobs will stay in Maryland for now. But "that hasn't been finalized yet," Space Imaging spokeswoman Linda Turner said.

Lockheed Martin and Hughes Aircraft Co. formed EOSAT in 1984 when the government decided to privatize the sale of satellite images, and Lockheed bought Hughes out this year. Governments, universities and companies buy the material.

Space Imaging was formed in 1994 to do virtually the same thing. Though privately held, its owners include Lockheed Martin, Raytheon E-Systems and Mitsubishi Corp.

Next year, Space Imaging plans to launch the only commercial satellite that can distinguish objects on the ground as small as three feet across.

Pub Date: 11/14/96

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.