Rocket Lab Finalises Acquisition Deal with Planetary Systems Corporation28th Dec 2021
On 1st December, Rocket Lab, a leading New Zealand-based launch provider, announced they are in the process of finalising the acquisition of Planetary Systems Corporation (PSC), a spacecraft separation systems enterprise based in Maryland, for $42 million and 1,720,841 shares of Rocket Lab common stock. The transaction was announced earlier last month, and the deal went as planned.
How Rocket Lab Benefits from the Acquisition?
Rocket Lab is one of the leading small satellite launch providers registered in California and located in New Zealand. Planetary Systems Corporation is an established manufacturer of satellite dispensers and separation software, emphasising cost-effectiveness and hardware reliability. To date, PSC has a 100% mission success rate across 100+ missions for different launch operators. Besides Rocket Lab, some of the most prominent companies and organisations include Northrop Grumman, SpaceX, United Launch Alliance, and NASA.
Rocket Lab is currently building vertically-integrated in-house manufacturing, which is exactly where Planetary Systems Corporations and its proven hardware manufacturing expertise come in. PSC will assist Rocket Lab on its new Photon carrier development, contributing its share to spacecraft separation systems.
The deal is equally beneficial for PSC because it allows access to Rocket Lab manufacturing capabilities, giving Planetary Systems Corporation a chance to further enhance its already strong technical base.
According to Peter Beck, Rocket Lab founder and CEO, the collaboration between two companies will ensure easier, more affordable access to space and further innovations in the space industry.
Planetary Systems Corporation Founder on the Finalized Deal
According to Planetary Systems Corporation founder and chief engineer Walter Holemans, the company takes pride in its 20+ years of experience building reliable spacecraft separation systems with an outstanding 100% mission success rate. Now, Planetary Systems Corporations team is excited to join Rocket Lab to scale its manufacturing capabilities and support more space missions.