Rocket Lab is continuing its acquisition strategy, this time with a cash and stock deal with Planetary Systems Corporation (PSC).
The news was announced ahead of the company’s third-quarter earnings. Rocket Lab said it would purchase the company for $42 million in cash, plus 1,720,841 in shares of common stock, with the potential for additional shares based on future performance.
PSC is a spacecraft separation systems company based in Maryland. More than 100 missions have used its mechanical separation systems and satellite dispensers. The company makes a “Canisterized Satellite Dispenser,” a separation system to separate spacecraft from rockets while also protecting them during launch. PSC’s hardware has been integrated with launch vehicles developed domestically by SpaceX, United Launch Alliance and the now-retired NASA Space Shuttle; and internationally by Arianespace, the Japan Aerospace Exploration Agency and others.