Planet Labs (PL) said Tuesday it is expanding its collaboration with Bayer through a new multi-year enterprise license agreement with the German biotechnology company.
Financial terms were not disclosed, but Planet Labs said Bayer will gain additional access to its satellite imagery and analytics, enabling improved decision-making across Bayer's global agricultural operations and other commercial activities.
The Planet Labs data platform will also allow Bayer to use phenotypic assessments and other satellite insights during its strategic planning, product development and field management.
Planet Labs shares recently were 8% lower in midday trading Tuesday.
Price: 4.30, Change: -0.38, Percent Change: -8.03
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