February 10, 2010 / 10:22 PM / 10 years ago

DigitalGlobe says modifies agreement with NGA

(Reuters) - Satellite imagery company DigitalGlobe Inc said it amended its service level agreement with the National Geospatial-Intelligence Agency (NGA), its largest customer, to modify the government agency’s option to extend the term of the agreement.

The amendment grants the NGA the option to extend the agreement for three months from April 1, 2010, to June 30, 2010, DigitalGlobe said in a statement.

It will also have six additional options of one-month each, with the last option term expiring on December 31, 2010.

The original option had provided for a single nine-month extension of the term from April 1, 2010, through December 31, 2010.

“NGA requested the modification and the company believes this modification provides increased flexibility for NGA as the EnhancedView procurement continues,” DigitalGlobe said in a statement.

EnhancedView, also called the ‘two-plus-two’ program, is a U.S. government initiative to increase the use of imagery procured through the only two commercial providers - DigitalGlobe and GeoEye.

DigitalGlobe shares closed at $22.03 Wednesday on the New York Stock Exchange.

Reporting by A.Ananthalakshmi in Bangalore; Editing by Unnikrishnan Nair

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