BDC, BMO invest $22 mln to develop BlackBridge's next generation of satellites
BlackBridge Group, a provider of end-to-end technology and services across the geospatial value chain, has secured $22 million in funding. The investors are BDC Subordinate Financing, an investment arm of the Business Development Bank of Canada, and the Bank of Montreal. Proceeds will be used for the development of the company's next generation of satellites, RapidEye+, and for the renewal of existing credit facilities. Based in Lethbridge, Alberta, BlackBridge in 2011 acquired its German competitor RapidEye AG. BDC Subordinate Financing provides quasi-equity investments to small and medium-sized businesses in Canada.
16 May 2014•2 mins read
