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Media

Host Of Companies Win In Strong DigitalGlobe IPO (DGI, MS, OZM, ORB, GEOY)

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By Douglas A. McIntyre Updated Published
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DigitalGlobe is set to  open for trading this morning in another highly anticipated initial public offering.  The satellite imagery company will trade on the NYSE with the ticker “DGI.”  The IPO was priced at $19.00 for some 14.7 million shares.  Morgan Stanley (NYSE: MS), Och-Ziff Capital Management (NYSE: OZM), Orbital Sciences Corporation (NYSE: ORB) are among the public companies which are all listed as shareholders of DigitalGlobe.

The lead underwriters are listed as Morgan Stanley and J.P. Morgan Chase & Co., and co-managers are listed as Citigroup, Merrill Lynch, and Jefferies.

The pricing is technically above the $16 to $18 per share price range we had previously indicated.  The company has two high-resolution satellites for detailed mapping and plans to launch a third satellite later this year. If you want a direct comparison, the company competes head to head with GeoEye, Inc. (NASDAQ: GEOY).

Revenues were $106.8 million in 2006, $151.7 million in 2007, and $275.2 million in 2008.  Be advised that about 70% of the revenues were from the US government.  Two other customers are Google, Microsoft, and Garmin.

Early indications are said to be north of $20.00, although that may rise or fall into the opening of this IPO.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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