Immersive Media, the company which developed the initial technology for the Google StreetView initiative for Google Maps, has sent out a press release stating that their content licence deal with Google has been terminated (and Google has taken it upon themselves to send out their fleet of Chevy Cobalts).
Immersive Media plans to licence its GeoImmersive Imagery in other markets, continue a mapping initiative in North America and will scale internationally to meet customer demand.
“We’ve had our technology validated and it has been exposed to millions of people which was a key objective when we entered into this agreement,” president and CEO Myles McGovern said in a statement.
Immersive says that termination of the deal with Google will cause a “modest” short-term revenue drop, but in the long term the company said it does not believe there will be a material impact.
Note : Google seems to be contracting a company called TXi (play on Taxi) for their London StreetView project.
