HPC Market Watch
LONGMONT, CO -- (Marketwire) -- 03/19/12 -- DigitalGlobe (NYSE: DGI), a leading global provider of high-resolution earth imagery solutions, today announced that China's most influential internet search portal, Baidu.com Inc. (NASDAQ: BIDU) ("Baidu"), has signed a subscription for DigitalGlobe high-resolution imagery covering 344 cities in China.
This agreement will enable Baidu to provide its end-users with a more robust online mapping experience in Baidu Maps and its third-party developers with increased functionality in its Baidu Maps application programming interface (API) for location-based services.
Baidu is the world's largest Chinese search engine and is China's largest online advertiser, with 80 percent market share and over 50 percent year-over-year growth.
"Baidu is excited to enter into a new relationship for DigitalGlobe imagery as we continue to grow and expand our online location-based services," said Dongchen Zhang, head of business development at Baidu. "With this agreement, Baidu can offer new ways for users to engage with the Internet while continuing to solidify Baidu's presence at the heart of China's Internet ecosystem."
DigitalGlobe's industry-leading ImageLibrary offers customers over 85 million square kilometers (km2) of highly accurate imagery in China, and over two billion km2 of imagery worldwide.
"China is one of DigitalGlobe's most strategic geographic markets, and establishing this relationship with Baidu is an important step in strengthening our position in the Chinese consumer segment," said Rafay Khan, senior vice president at DigitalGlobe. "Our ever-growing ImageLibrary continues to outpace our competition, and gives us a considerable edge in rapidly changing countries like China."
DigitalGlobe is a leading global provider of commercial high-resolution earth imagery products and services. Sourced from our own advanced satellite constellation, our imagery solutions support a wide variety of uses within defense and intelligence, civil agencies, mapping and analysis, environmental monitoring, oil and gas exploration, infrastructure management, Internet portals and navigation technology. With our collection sources and comprehensive ImageLibrary (containing more than two billion square kilometers of earth imagery and imagery products) we offer a range of on- and off-line products and services designed to enable customers to easily access and integrate our imagery into their business operations and applications. In China, DigitalGlobe imagery is distributed through Siwei WorldView Technology (Beijing) Co., Ltd. For more information, visit www.digitalglobe.com.
Baidu, Inc. is the leading Chinese language Internet search provider. As a technology-based media company, Baidu aims to provide the best way for people to find information. In addition to serving individual Internet search users, Baidu provides an effective platform for businesses to reach potential customers. Baidu's ADSs, each of which represents one Class A ordinary share, are currently trading on the NASDAQ Global Select Market under the symbol "BIDU."
DigitalGlobe is a registered trademark of DigitalGlobe.
Safe Harbor Statement
Our reports, filings, presentations and public announcements may contain or incorporate forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements relate to future events or our future financial performance. We generally identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar words, although not all forward-looking statements contain these words.
Any forward-looking statements are based upon our historical performance and on our current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates or expectations will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions. A number of important factors could cause our actual results or performance to differ materially from those indicated by such forward looking statements, including: the loss, reduction or change in terms of any of our primary contracts; the loss or impairment of our satellites; delays in the construction and launch of WorldView-3; delays in implementation of planned ground system and infrastructure enhancements; loss or damage to the content contained in our ImageLibrary; interruption or failure of our ground system and other infrastructure, decrease in demand for our imagery products and services; increased competition that may reduce our market share or cause us to lower our prices; our failure to obtain or maintain required regulatory approvals and licenses; changes in U.S. foreign law or regulation that may limit our ability to distribute our imagery products and services; the costs associated with being a public company; and other important factors, all as described more fully in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
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