Elementary Mr. Watson: Running the Signal Gauntlet
The Shaughnessy Report: Winning the Signal Integrity Battle
Connect the Dots: How to Avoid Five Common Causes of Board Failure
Astra Acquires Apollo Fusion to Reach New Orbits
June 8, 2021 | Business WireEstimated reading time: 1 minute
Astra, the fastest privately funded company in history to reach space, announced its planned acquisition of Apollo Fusion in a transaction valued up to $145 million. Apollo Fusion manufactures a leading electric propulsion engine. This acquisition allows Astra to provide launch and space services beyond low Earth orbit (LEO), to medium Earth orbit, geosynchronous, and lunar orbits.
“In addition to increasing Astra’s total addressable market for launch services, the acquisition of Apollo Fusion accelerates Astra’s ability to efficiently deliver and operate spacecraft beyond low Earth orbit,” said Astra Founder, Chairman, and CEO Chris Kemp.
“Scale is what makes innovation matter,” said Reid Hoffman, partner at Greylock and lead investor in Apollo Fusion. “I’m excited that Apollo Fusion will be a key enabler of Astra’s hyperscale space platform.”
Under the agreement, Astra is acquiring Apollo Fusion for a purchase price of $50 million: $30 million in stock and $20 million in cash. Additionally, there is potential for earn-outs of up to $95 million: $10 million in employee incentive stock, $10 million in cash for reaching technical milestones, and $75 million ($60 million in stock, $15 million in cash) for reaching revenue milestones. PJT Partners is acting as financial advisor to Astra in connection with this series of transactions.
“Propulsion systems open new destinations,” said Apollo Fusion Founder and CEO Mike Cassidy. “Our team is excited to combine the flexibility of in-space propulsion with the world’s most responsive launch provider.”
In addition to Cassidy, the acquisition brings a team with experience from companies such as Google, Tesla, and SpaceX, with individuals who have developed, designed, and manufactured hardware flying on over 2,000 satellites in orbit today.
This transaction will close after Astra’s business combination with Holicity (NASDAQ: HOL) is completed, and is expected to be accretive to revenue starting this year.
Share on:
Testimonial
"Advertising in PCB007 Magazine has been a great way to showcase our bare board testers to the right audience. The I-Connect007 team makes the process smooth and professional. We’re proud to be featured in such a trusted publication."
Klaus Koziol - atgSuggested Items
ASTRA 1P Successfully Launched on SpaceX’s Falcon 9 Rocket
06/21/2024 | BUSINESS WIRESES announced that the ASTRA 1P satellite was successfully launched by a SpaceX Falcon 9 rocket from Cape Canaveral Space Force Station in Florida, United States, at 5:35 pm local time.
Synaptics Astra AI-Native IoT Platform Launches with SL-Series Embedded Processors and Machina Foundation Series Development Kit
04/08/2024 | SynapticsSynaptics® Incorporated launched the Synaptics Astra platform with the SL-Series of embedded AI-native Internet of Things (IoT) processors and the Astra MachinaTM Foundation Series development kit.
Spirit AeroSystems, Astraius Join Forces to Boost UK Launch Ambitions
03/21/2023 | Spirit AeroSystems, Inc.Spirit AeroSystems, Inc. and Astraius Ltd. announced a collaboration to enhance future satellite launch capabilities from Prestwick Spaceport.
NASA, Axiom Agree to First Private Astronaut Mission on Space Station
05/10/2021 | NASANASA and Axiom Space have signed an order for the first private astronaut mission to the International Space Station to take place no earlier than January 2022.
U.S. Space Force SMC Awards ASTRA EO/IR Mission to Support U.S. Warfighter
07/28/2020 | PR NewswireThe U.S. Space Force's (USSF) Space and Missile Systems Center (SMC) has selected ASTRA, LLC to develop and demonstrate an Electro-Optical / Infrared (EO/IR) LEO-based cloud characterization solution that supports U.S. warfighter operations.