McCALL, Idaho, Dec. 23 -- Earth Search Sciences Inc. has completed its acquisition of privately held Space Technology Development Corp. of Alexandria, Va. Earth Search obtained all shares of Space Technology Development in return for four million shares of Earth Search common stock and the option to purchase another four million shares at exercise prices ranging to five dollars.
One of the principal assets acquired by Earth Search is the right to develop the Naval EarthMap Observer, or NEMO, one of the world's first commercial hyperspectral imaging satellites. NEMO is currently under construction at the Naval Research Lab, with a launch tentatively scheduled for 2001.