BlackSky Technology Inc BKSY began trading on the New York Stock Exchange Friday following the successful completion of its merger with special purpose acquisition company, Osprey Technology Acquisition Corp.
Palantir Technologies Inc PLTR co-founder Peter Thiel was a notable PIPE investor in BlackSky. BlackSky recently announced a partnership with Palantir to combine high-resolution imagery and deep analytics from global monitoring from space and real-time insights.
Following the successful completion of a pilot program demonstrating how BlackSky and Palantir's technologies could be intertwined, the two companies saw a larger opportunity to work together, BlackSky CEO Brian O'Toole said Monday in an exclusive interview on Benzinga's "SPACs Attack."
BlackSky hopes to bring its technology combined with Palantir's platform to a lot more customers. "We are excited about the partnership and where it's going to go," O'Toole said.
How BlackSky Differs: BlackSky is not just a satellite imagery company. "This is about real-time global intelligence," O'Toole said.
The world is going to be filled with sensors both in space and on the ground. The opportunity lies with the ability to bring all of the information onto one platform and make sense of the data through artificial intelligence and machine learning capabilities, he told Benzinga.
If BlackSky can provide access to the information on one platform, it will be able to disrupt the highly fragmented customer experience that currently exists, O'Toole said.
Customers can gain access to the BlackSky platform in just a matter of minutes, he said, adding that those customers can then start tasking satellites and getting data delivered to them in under 90 minutes.
"This is really going to change the way the business community starts to interact with this type of data."
O'Toole went on to talk about revenue estimates, recent contracts, investing for the future, and more.
See the full interview here:
BKSY Price Action: BlackSky opened for trading at $11.80 Friday and closed at $11 per share.
The stock was down 7% at $10.23 at time of publication Monday.
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