WASHINGTON Canadian remote sensing company UrtheCast says it has sufficient resources to cover the $20 million purchase of analytics firm Geosys from U.S. dairy giant Land OLakes.
Urthecast, which is in the midst of a restructuring in pursuit of becoming profitable, lost $10 million for the three months ending June 30.
Geosys, a Minneapolis-based geoanalytics firm billing itself as the largest purchaser of agricultural satellite imagery worldwide, should have greater success serving other agriculture customers who view Land OLakes as a competitor, and will serve as a conduit for UrtheCast satellite imagery, Donald Osborne, UrtheCasts new CEO, said during an Aug. 15 earnings call.
Osborne, who joined UrtheCast five weeks ago fr…
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