Google is selling its $500 million satellite imaging company to a startup (GOOG, GOOGL)

Terra Bella, the satellite imaging company that Google bought about two years ago for $500 million, will be sold to mapping startup Planet Labs, the companies announced Friday.According to the agreement, Planet Labs will acquire the Terra Bella business and satellites and Google will continue to license the satellite imagery for its mapping products.The move marks the latest effort by Google's parent company Alphabet to manage spending of its Other Bets, the companies and projects outside the core Google business.Alphabet's Other Bets lost $1.088 billion last quarter on $262 million in revenue, the company reported in its earnings last month.Developing... refresh this post for the latest.Join the conversation about this storyNOW WATCH: Here's the gorgeous trailer for 'Super Mario Odyssey' 'the first Mario game for Nintendo Switch
Click here to read full news..