Alphabet Inc. (NasdaqGS:GOOGL) (Google Inc.) is in talks to sell its satellite business to Planet Labs Inc., according to people familiar with the talks. The sale of its satellite-imagery unit, Terra Bella would be a rapid about-face for Google, which has recently shed some of its bolder ventures. Google bought the company for $500 million in 2014, when it was known as Skybox Imaging, Inc. Discussions about the possible acquisition, which were first reported by Bloomberg News on January 9, 2017, are focused on a possible cash plus equity deal, the people said.

Planet is seeking to raise funds to help finance the deal and pay for continuing operations, one of the people said.