Planetary Systems Corporation (PSC) is a manufacturer specializing in spacecraft separation systems and satellite dispensers. Their hardware ensures the safe attachment and release of satellites from rockets in space. Acquired by Rocket Lab in 2021, PSC's products are now a key part of Rocket Lab's Space Systems division, and have a 100% mission success rate across numerous launches with providers like Rocket Lab, SpaceX, and Arianespace, serving customers such as NASA, ISRO and JAXA.
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Rocket Lab acquired Planetary Systems Corporation on terms announced 2021-11-15 and that deal closed on 2021-12-01.
The SolAero merger is Rocket Lab’s third proposed acquisition announced in 2021 following the acquisition of ASI Aerospace LLC in October 2021 and the completion of Planetary Systems Corporation in December 2021.
The acquisition enables Planetary Systems Corporation to use Rocket Lab’s resources and manufacturing capability to grow its commercial hardware business and continue serving satellite customers launching on other launch vehicles.
Based on Rocket Lab’s closing stock price on 2021-11-15, the PSC acquisition has a total value of $81,400,000.
Rocket Lab USA, Inc. signed a definitive agreement to acquire Planetary Systems Corporation for $42,000,000 in cash and 1,720,841 shares of Rocket Lab common stock plus the potential for an additional 956,023 shares of common stock as a performance earnout based on PSC’s CY 2022 and 2023 financial results.
Rocket Lab will purchase Maryland-based Planetary Systems Corporation for $42,000,000 in cash and 1.72 million shares of stock.
Planetary Systems Corporation produces the Lightband line of satellite separation systems and the Canisterized Satellite Dispenser for deploying small satellites.
Planetary Systems Corporation provides mechanical separation systems and satellite dispensers with a 100% mission success heritage to date across more than 100 missions.