Rocket Lab Acquires Space Software Company Advanced Solutions, Inc
October 12 2021 - 5:00AM
Business Wire
The Acquisition Accelerates Growth of Rocket
Lab's Space Systems Business and Strengthens Position as Leading
End-to-End Space Company
Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the
Company”), a global leader in launch services and space systems,
today announced it has completed the acquisition of Advanced
Solutions, Inc. (ASI), a Colorado-based aerospace engineering firm
delivering mission proven space software, mission simulation and
test systems, and Guidance, Navigation, and Control (GNC)
solutions, for $40 million plus the potential for an additional
$5.5 million performance earnout based on CY 2021 results.
ASI’s industry-leading advances in flight software, mission
simulation, and GNC significantly strengthen Rocket Lab’s Space
Systems portfolio, which encompasses the Photon spacecraft line and
a growing suite of spacecraft hardware solutions, including those
brought to the portfolio through the acquisition of Sinclair
Interplanetary in April 2020.
“Both Rocket Lab and ASI have built leading space businesses
with mission proven technology and have a shared vision of making
it easier to get to space and do incredible things there, so we’re
excited to welcome ASI aboard to further enhance our space systems
portfolio and deliver enhanced end-to-end space solutions," said
Peter Beck, Rocket Lab Founder and Chief Executive Officer. “The
ASI team revolutionized flight software and have enabled some of
the most significant space exploration missions. For more than 20
years they have been delivering industry-first, off-the-shelf
spacecraft flight software products that enable cost-effective and
highly capable constellation and interplanetary missions. By
joining forces, we believe it will have a transformative effect on
the way spacecraft are designed, built, tested, launched, and
operated, further unlocking space’s potential.”
“We’ve found a great fit with Rocket Lab and we’re thrilled to
be teaming up with them to continue making space faster, easier and
more affordable,” said John Cuseo, ASI Founder and Chief Executive
Officer. “The two companies complement each other very well. By
coming together, we will continue to serve our customers and
innovate in our areas of expertise, including space software and
GNC, but now with more rocket fuel in the tank to play with. We
look forward to also becoming an integral part of Rocket Lab’s
Space Systems business, supporting Photon missions, satellite
components, and space and ground software.”
ASI’s team of almost 60 people will continue to be led by John
Cuseo in Colorado, enabling Rocket Lab to grow its presence within
the nation’s second-largest aerospace economy and home to
cutting-edge space programs, military commands and renowned
research laboratories and universities. The ASI team will continue
to serve its existing customer base, while leveraging the ability
to scale by tapping into Rocket Lab’s resources, team, and
technology.
Founded in 1995, ASI has developed an industry-leading suite of
software and technology solutions for reliable space mission design
and operation. It’s off-the-shelf spacecraft flight software, MAX,
has been operating across more than 45 spacecraft for a cumulative
135 years in space. ASI’s customers include leading aerospace prime
contractors, the U.S. Air Force, U.S. DOD organizations, NASA, and
commercial spacecraft developers including several of the exciting
new space start-ups.
The ASI team have supported some of the most ambitious Earth,
interplanetary, and human spaceflight missions flown. These
missions have explored distant planets, connected people on Earth,
and pushed the boundaries of what is possible in space. Now, ASI’s
engineers and space software products are enabling a wide variety
of missions with speed, capability, and reliability.
About Rocket Lab Founded in 2006, Rocket Lab is an
end-to-end space company with an established track record of
mission success. We deliver reliable launch services, spacecraft
components, satellites and other spacecraft and on-orbit management
solutions that make it faster, easier and more affordable to access
space. Headquartered in Long Beach, California, Rocket Lab designs
and manufactures the Electron small orbital launch vehicle and the
Photon satellite platform and is developing the Neutron 8-ton
payload class launch vehicle. Since its first orbital launch in
January 2018, Rocket Lab’s Electron launch vehicle has become the
second most frequently launched U.S. rocket annually and has
delivered 105 satellites to orbit for private and public sector
organizations, enabling operations in national security, scientific
research, space debris mitigation, Earth observation, climate
monitoring, and communications. Rocket Lab’s Photon spacecraft
platform has been selected to support NASA missions to the Moon and
Mars, as well as the first private commercial mission to Venus.
Rocket Lab has three launch pads at two launch sites, including two
launch pads at a private orbital launch site located in New
Zealand, one of which is currently operational, and a second launch
site in Virginia, USA which is expected to become operational by
the end of 2021. To learn more, visit www.rocketlabusa.com.
Forward-Looking Statements This press release may contain
certain “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities and Exchange Act of 1934, as amended. These
forward-looking statements, including without limitation
expectations regarding the benefit of the ASI acquisition, are
based on Rocket Lab’s current expectations and beliefs concerning
future developments and their potential effects. These
forward-looking statements involve a number of risks, uncertainties
(many of which are beyond Rocket Lab’s control), or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by these
forward-looking statements. Many factors could cause actual future
events to differ materially from the forward-looking statements in
this press release, including risks related to the global COVID-19
pandemic, including risks related to government restrictions and
lock-downs in New Zealand and other countries in which we operate
that could delay or suspend our operations; delays and disruptions
in expansion efforts; our dependence on a limited number of
customers; the harsh and unpredictable environment of space in
which our products operate which could adversely affect our launch
vehicle and spacecraft; increased congestion from the proliferation
of low Earth orbit constellations which could materially increase
the risk of potential collision with space debris or another
spacecraft and limit or impair our launch flexibility and/or access
to our own orbital slots; increased competition in our industry due
in part to rapid technological development and decreasing costs;
technological change in our industry which we may not be able to
keep up with or which may render our services uncompetitive;
average selling price trends; failure of our satellites to operate
as intended either due to our error in design in production or
through no fault of our own; launch schedule disruptions; supply
chain disruptions, product delays or failures; design and
engineering flaws; launch failures; natural disasters and epidemics
or pandemics; changes in governmental regulations including with
respect to trade and export restrictions, or in the status of our
regulatory approvals or applications; or other events that force us
to cancel or reschedule launches, including customer contractual
rescheduling and termination rights; risks that acquisitions do not
achieve the anticipated benefits and results; and the other risks
detailed from time to time in Rocket Lab’s filings with the
Securities and Exchange Commission under the heading “Risk Factors”
and elsewhere (including that the impact of the COVID-19 pandemic
may also exacerbate the risks discussed therein). There can be no
assurance that the future developments affecting Rocket Lab will be
those that we have anticipated. Except as required by law, Rocket
Lab is not undertaking any obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20211012005509/en/
+ Rocket Lab Media Contact Morgan Bailey +64275389039
media@rocketlabusa.com
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