HERNDON, Va., 14 June 2012. Engineers at GeoEye Inc. (NASDAQ:GEOY), a provider of geospatial information in Herndon, Va., have triggered a $111 million cost-share payment from the National Geospatial-Intelligence Agency (NGA) upon achieving a milestone in the GeoEye-2 satellite’s development under the EnhancedView program.

"GeoEye-2, designed and built by Lockheed Martin Space Systems, includes market-leading technology features, such as robust tasking capabilities, faster imagery collection rates and a new state-of-the-art, ITT Exelis Geospatial Systems camera," explains Carl Alleyne, GeoEye's vice president of Engineering.

"This is a terrific achievement by our team and a great confirmation of our strong partnership with the NGA, especially during these uncertain economic times,” Matt O'Connell, GeoEye's CEO and president, says. “We look forward to providing the NGA with the highest resolution color imagery from GeoEye-2, which will be an important long-term security asset to the DoD (Department of Defense) and the intelligence agencies of the United States."