Planet Labs signs $230 million deal to build satellites for Asian customer
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Planet Labs has secured a $230 million contract to build satellites for an unnamed customer in the Asia-Pacific region, marking its largest deal to date and signaling its expansion beyond data services.
January 29, 2025 | 2:30 pm
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Planet Labs has signed its largest contract to date, a $230 million deal to build satellites for an Asia-Pacific customer, indicating a strategic expansion beyond its traditional data services.
The $230 million contract is a significant revenue boost for Planet Labs, marking its largest deal and indicating a strategic shift towards satellite manufacturing. This expansion could enhance its market position and revenue streams, positively impacting its stock price.
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