EarthDaily Analytics acquires Descartes Labs

EarthDaily Analytics has acquired geospatial intelligence firm Descartes Labs, the company announced Tuesday. EarthDaily Analytics said the acquisition was attractive because of how Descartes Labs products apply geospatial data to solve challenges. 

Both companies are owned by private equity firm Antarctica Capital. The PE firm formed EarthDaily Analytics in 2021 after buying assets from UrtheCast. Then, Antarctica Capital then acquired a controlling interest in Descartes Labs in 2022. 

This acquisition comes as EarthDaily Analytics, based in Canada, prepares to launch a new satellite constellation in 2025 to collect imagery across a broad spectral range. 

Descartes Labs has established commercial products, including Marigold, Iris, and Ascend, that inform mineral exploration, insurance, and commodity trading. EarthDaily Analytics said that with the acquisition, these products will benefit from imagery from the upcoming constellation. 

EarthDaily Analytics CEO Don Osborne said this combination can “unlock the full power of big data and AI in geospatial intelligence and applications.” 

“This acquisition instantly positions the combined EDA as a highly relevant player in multiple fast-growing, high-value markets, building on our established position as a global leader in the agriculture and ag insurance markets,” Osborne commented. “Additionally, this significant expansion positions us to offer a comprehensive, end-to-end geospatial and AI service offering that meets the complex and multifaceted needs of even the largest civil government and commercial partners.”

There could be more acquisitions to come. According to the news release, “the company is focused on acquisition opportunities in which it can gain immediate access to select high-value verticals, leveraging its core technology and cross-platform synergies.”