Rocket Lab USA Inc. on Monday said it agreed to acquire Planetary Systems Corp. for $42 million in cash and 1,720,841 shares of common stock, with the potential for an additional 956,023 shares of common stock for a performance earnout.
Planetary Systems Corp. is a Maryland-based spacecraft separation systems company that provides mechanical separation systems and satellite dispensers, Rocket RKLB,
The company also said the acquisition is the latest addition to its Space Systems portfolio, following the recent acquisitions of Advanced Solutions Inc. and Sinclair Interplanetary.
Planetary Systems’ team of 25 will continue to be led by Planetary’s president and chief executive, Mike Whalen, and founder Walter Holemans will remain in his role of chief engineer, Rocket Lab said.
The deal is expected to close in the fourth quarter of this year.
