Google is reportedly close to making a deal to buy the satellite company Skybox Imaging, which focuses on highly detailed images and video of Earth.

The report said that in its last round of fundraising in 2012, Skybox was valued between $500 million and $700 million, according to CNET.

The Mountain View, Calif.-based company also focuses on data analytics.

The search giant was first mentioned to be interested in Skybox in April, Tech Crunch reported. The two companies met in at least three rounds of talks about an acquisition.

One source said the deal "is happening", estimating the price at around $1 billion.

Rumors of Google's interest in the satellite company came after its purchase of drone maker Titan Aerospace last month. The deal was aimed at building more high-altitude Internet-broadcasting balloons for the search giant's Project Loon, according to CNET.

Neither Skybox nor Google offered to comment on the deal.

The source of the deal has been cautioned as having inaccurate information to hide the company that Google is really planning to buy, Tech Crunch reported.

Other satellite companies that Google could be interested in include BlackBridge, which owns RapidEye. The company provides wide-scale images of big landscapes and covers 5 million square kilometers of ground every day. Another potential purchase is Planet Labs, which has deployed almost 30 of its "birds to constantly record and send images from Earth. The company calls the technology 'Doves.'"

OmniEarth could also be bought by Google, Tech Crunch reported. The company announced this week that it has partnered with Harris Corp., Draper Laboratory and Dynetics to launch up to 18 satellites and cover the entire planet once per day.

The rumored deal was mentioned as a way to help the company in developing projects for Google Maps and Google Earth, CNET reported.

Since Google is the top player in commercial Earth-imaging, the deal could also help the company with its interest in real-time imagery and its goal to develop a real-time virtual representation of our planet.