“We have been very clear about this strategic direction for several years now – Rocket Lab is pursuing every part of the space value chain,” Rocket Lab founder and chief executive Sir Peter Beck said of the deal.
“We launch our own rockets, we build satellites in constellation volumes, and now we’re closing in on the final step and most valuable part of the space economy – operating our own constellations to provide data and services from space using our newly announced Flatellite spacecraft.”
Mynaric is a leading provider of laser optical communications terminals for air, space, and mobile applications.
Beck said the company has paved the way in developing laser technology.
“Their team and technologies will make a compelling addition to our satellite component portfolio and we look forward to making the technology available at scale for our own constellations and those of our customers.”
Rocket Lab said laser communication has become a pain point for constellation operators due to products not readily being available in high volumes at an affordable price.
Rocket Lab – which has a history of making satellite subsystems and components affordable and available at scale – intends to do the same with Mynaric.
Mynaric currently provides Condor Mk3 optical communication terminals for Rocket Lab’s US$515m prime contract with the Space Development Agency to produce 18 satellites for the Tranche 2 Transport Layer-Beta.
The deal for Mynaric is Rocket Lab’s fifth major acquisition of a US company.
In December 2021, Rocket Lab paid US$80m for SolAero, a New Mexico maker of solar components for space.
Just a month earlier it bought Planetary Systems Corporation, a Maryland-based spacecraft separation system, for US$42m.
In October that same year, it snapped up Advanced Solutions, a Colorado-based maker of mission simulation systems and navigation and control solutions, for US$40m.
And in April 2020, Rocket Lab bought Toronto-based satellite component maker Sinclair Interplanetary for an undisclosed sum.
Rocket Lab is coming off its strongest financial year on record with revenue of US$436m.
The full-year figure came with a fourth quarter earnings report which revealed the company’s net loss for the quarter widened from US$50.4m to US$52.3m, when compared with the previous quarter.
The company is targeting revenue between US$117m and US$123m in the first quarter of this financial year.
Rocket Lab’s share price on the Nasdaq rose 2.53% to close at US$17.56.
Cameron Smith is an Auckland-based journalist with the Herald business team. He joined the Herald in 2015 and has covered business and sports. He reports on topics including retail, small business, the workplace and macroeconomics.
