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Google is buying satellite company Skybox for $500 million

Google Inc. said it’s acquiring satellite company Skybox Imaging Inc. for $500 million as it works to bolster its mapping services and improve Internet access.

The all-cash deal is subject to adjustments, the Mountain View, California-based company said on its website today. Skybox has designed satellites to capture images and deliver them to customers with details down to less than a meter.