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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.
Planetary Systems Corporation was founded in 1998 to provide mechanical systems to the aerospace industry.
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.
Planetary Systems Corporation provides mechanical separation systems and satellite dispensers with a 100% mission success heritage to date across more than 100 missions.
Planetary Systems Corporation produces the Lightband line of satellite separation systems and the Canisterized Satellite Dispenser for deploying small satellites.
Rocket Lab will purchase Maryland-based Planetary Systems Corporation for $42,000,000 in cash and 1.72 million shares of stock.