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Palantir Technologies Commits To Making Equity Investment In BlackSky; Size Not Disclosed

Collaboration to Expand Delivery of High-Resolution Imagery and Deep Analytics BlackSky Holdings, Inc. ("BlackSky"), a leading technology platform providing real-time geospatial intelligence and global

Benzinga · 09/01/2021 08:54

Collaboration to Expand Delivery of High-Resolution Imagery and Deep Analytics

BlackSky Holdings, Inc. ("BlackSky"), a leading technology platform providing real-time geospatial intelligence and global monitoring, announced today that Palantir Technologies Inc. (NYSE:PLTR) has committed to making an equity investment in BlackSky, which is scheduled to close after the completion of BlackSky's business combination with Osprey Technology Acquisition Corp ("Osprey"). Following the successful completion of a joint pilot program between BlackSky and Palantir, this investment signifies the strengthening of a strategic collaboration that will enable BlackSky to further extend its capabilities and meet the increasing demand for global monitoring services from its and Palantir's customers.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210901005619/en/

BlackSky Imagery Integrated into Palantir Foundry (Graphic: Business Wire)

BlackSky Imagery Integrated into Palantir Foundry (Graphic: Business Wire)

Through the pilot project, BlackSky automatically delivered insights and intelligence to Palantir customers within minutes of collection, without any human interaction. The ability to quickly deliver worldwide intelligence that can inform proactive strategic decision-making introduces a significant advantage in time-sensitive operations.

"This collaboration further enables BlackSky to put the power of real-time intelligence in the hands of the user by allowing Palantir customers to directly task our satellites, reduce decision-making timelines and increase the delivery of on-demand insights," said Brian E. O'Toole, CEO of BlackSky. "Our partnership with Palantir will accelerate our go-to-market plan, expanding our pipeline of commercial and government customers around the world."

To extend the benefits demonstrated by the pilot project, BlackSky also has entered into a multi-year software subscription agreement with Palantir to access Palantir Foundry, an enterprise platform run by Palantir. BlackSky will offer a combined solution that integrates Spectra AI with Palantir Foundry to expand the delivery of high-resolution imagery and deep analytics to customers worldwide. The capabilities of the combined solution were successfully demonstrated in a series of exercises with experienced geospatial intelligence customers earlier this year.

Through the collective capabilities of BlackSky and Palantir, this collaboration increases access to time-sensitive global intelligence that can aid in predicting events. BlackSky will leverage this alliance to meet the unprecedented demand for real-time actionable intelligence.

"BlackSky is a strong partner to Palantir and reinforces our shared goals around compressing decision-chains for operational users at the edge," said Shyam Sankar, COO of Palantir Technologies. "Through the licensing agreement, customers will gain tailored insights from increasingly sophisticated orbital sensors and AI, integrated into their decision-making operating system. This partnership directly connects space sensors to action, accelerating operations across domains, from space to mud."

Earlier this year, BlackSky announced a planned business combination with Osprey Technology Acquisition Corp. (NYSE:SFTW). Osprey will hold the special meeting of stockholders on September 8, 2021 at 10:00 a.m. ET to, among other things, allow its stockholders to vote to approve the proposed business combination with BlackSky.