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  • Friday, November 22, 2024

Rocket Lab Completes Planetary Systems Buy; Peter Beck Quoted

Launch services provider Rocket Lab USA (Nasdaq: RKLB) has completed its stock-and-cash acquisition of Silver Spring, Maryland-based spacecraft separation technology developer Planetary Systems Corp.

The transaction — which was first announced in November — comprises $42 million in cash, 1.72 million shares from Rocket Lab’s common stock and an additional 956,023 in stock contingent on PSC’s financial performance for the 2022 and 2023 calendar years, Rocket Lab said Wednesday.

PSC will add offerings to its parent organization’s space systems division and recently acquired software business, Advanced Solutions Inc.

Peter Beck, founder and CEO of Rocket Lab, said the combined company aims to serve as a “one-stop-shop” for launch support, spacecraft hardware, satellites and operational services.

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