NEW YORK (TheStreet) --Shares of DigitalGlobe Inc. (DGI) are higher by 4.71% to $32.02 this morning after the U.S. government approved the company's request to sell higher resolution images which could bring $400 million in additional market opportunities, Reuters reports.
The company is the only provider of high resolution commercial satellite images in the country and is now licensed by the Commerce Department to begin the sale of images with a 40 cm resolution, up from 50 cm.
In August DigitalGlobe plans to launch its Worldview 3 satellite, six months later the company will be able to sell images at 25 cm, allowing a user to go from identifying an object as a car, to identifying its make, according to Reuters.
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"It means we'll be able to solve new kinds of problems, and as a result grow our business," DigitalGlobe Chief Executive Jeffrey Tarr told Reuters.
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