Colorado-based DigitalGlobe to acquire The Radiant Group for $140 million

Colorado-based DigitalGlobe Inc. plans to acquire The Radiant Group Inc., a privately held Reston-based geospatial information company, from Aston Capital for $140 million in cash.

DigitalGlobe said the combined business will support critical national security missions with an expanded portfolio of capabilities that extend across the geospatial intelligence value chain.

Radiant expects to have 2016 revenue of about $100 million. Its revenue growth rate has been above 10 percent.

“The acquisition of The Radiant Group represents an important step in deriving new insights for customers from DigitalGlobe’s imagery and other geospatial information sources,” DigitalGlobe  CEO Jeffrey R. Tarr said in a statement. “Combining Radiant with DigitalGlobe greatly enhances both organizations’ capabilities, expands our customer base across the U.S. Intelligence Community and increases our access to contract vehicles.

Radiant has contracts with the National Reconnaissance Office, National Geospatial-Intelligence Agency, Defense Intelligence Agency and Special Operations Command,

DigitalGlobe, which is based in Westminster, Colo., expects to finance the deal with cash on hand and funds from an existing revolving line of credit. The transaction is expected to closed by the end of this year.

Aston Capital is a Stamford, Conn.-based private-equity fund focused on middle markets investing in the aerospace, defense and national security sectors.