Rocket Lab, a leading American aerospace manufacturer, has reportedly announced the acquisition of SolAero Holdings, a New Mexico based enterprise that manufactures space solar products and precision aerospace structures, for $80 million in cash.
Through this deal, Rocket Lab has added another significant in-house supplier to its portfolio of companies, for its satellite manufacturing operations. Meanwhile, having access to Rocket Lab's resources and expertise will also grant SolAero the production capability it needs to elevate its high-volume production as well as scale, allowing it to better serve other clients.
According to Morgan Bailey, director of communications, Rocket Lab, the purchase supports the corporation's long-term goal by allowing it to take a larger share of the space market.
Bailey further explained that for instance, while Rocket Lab might not be planning to launch a particular spacecraft with Electron or Neutron, however by providing solar cells or other components like reaction wheels, star trackers, separation systems, and flight software, it can still capture revenue and contribute in the mission.