Operator Rocket Lab Signs an Acquisition Deal with Planetary Systems Corporation19th Nov 2021
On 15th November, Rocket Lab, a leading small satellite launch provider that recently went public on NASDAQ, announced they were signing an agreement to purchase Maryland-based aerospace company, Planetary Systems Corporation (PSC). The acquisition, worth $42 million and over 1,700 company shares, should close by the fourth quarter of the year.
How Rocket Lab Will Benefit from the Acquisition?
Planetary Systems is a trusted provider of mechanical satellite separation systems. The company boasts a 100% mission success rate, and Rocket Lab, as an established launch provider, will be able to harness the PSC’s impressive hardware expertise. Besides, the deal gives Planetary Systems access to Rocket Lab’s manufacturing capabilities, which should help strengthen an already solid hardware base.
Rocket Lab has a very high mission success rate, and its Electron rocket is one of the most-flown satellite carriers today. In turn, Planetary Systems has been fine-tuning its satellite separation hardware for twenty years. The company’s products have been in high demand among multiple launch providers, including SpaceX, ULA, Northrop Grumman. Planetary Systems has a high standing among various space agencies, including NASA, JAXA, and others. With PSC’s tech, Rocket Lab can boost its chances of becoming a launch provider with a 100% mission success rate.
Planetary Systems on the Deal & Future Company Operations
Despite Rocket Lab’s acquisition of Planetary Systems, the company will still retain its 25-employee staff led by the current President and CEO, Mike Whalen. Walter Holemans, Planetary Systems founder and Chief Engineer, commented on the acquisition, stating that 23 years ago, the company was a single-person enterprise with living room headquarters. Holemans believes that PSC would never have achieved such results without hard work, determination, and a super-talented team. Planetary Systems founder adds that the team is excited to be joining Rocket Lab to continue innovating the space industry.