It’s been six months since I interviewed Rocket Lab chief executive Sir Peter Beck. We have a lot to discuss following the space company’s Q1 earnings! Video / Cameron Pitney
Rocket Lab says it will acquire the parent holding company of a US national security satellite provider for US$275 million ($462m).
It said the deal marked its formal entry into the satellite payload segment.
Rocket Lab said it would buy the parent holding company of Geost, an Arizona-based electro-optical andinfrared payload development and manufacturing company.
Geost delivered sensor systems for missile warning and tracking, tactical intelligence, surveillance, and reconnaissance.
The acquisition is expected to close in the second half of this year.
Rocket Lab said the acquisition would enhance its ability to rapidly deliver integrated spacecraft systems purpose-built for US national security.
“Geost’s full suite of sensing solutions enables warfighters and mission operators to protect, defend, and execute with speed and precision in increasingly contested space environments.”
Rocket Lab founder and chief executive Peter Beck said his company would bring advanced electro-optical and infrared payloads in-house.
“These technologies enable spacecraft that can detect, interpret, and respond to threats in real time, enhancing our role as a trusted provider of end-to-end space capabilities for the US and its allies, with greater speed, intelligence, and operational control.”
Rocket Lab’s Māhia space port. The space company is set to become the prime builder of US defence satellites, but will not be launching them from Māhia. Picture supplied
Rocket Lab said the deal would involve US$125m in cash, US$150m in privately-placed shares of Rocket Lab common stock, plus up to US$50m in potential additional cash earnout payments tied to revenue targets.
Beck recently told the Herald that expected Nasa budget constraints had not discouraged him from one day reaching Mars.
Rocket Lab announced a slip in quarterly earnings this month but made progress on its medium-lift Neutron rocket, set to launch for the first time later this year.
