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Spaceflight Industries to offload satellite rideshare launch business

Spaceflight Industries to offload satellite rideshare launch business
Spaceflight Industries to offload satellite rideshare launch business
Spaceflight Industries has struck a deal to sell Spaceflight Inc., its satellite rideshare launch arm, to Mitsui & Co. and Yamasa. Post its closing, both the companies are set to co-own Spaceflight Inc. in a 50-50 joint venture. The likely acquisition offers unwavering commitment of Spaceflight to infuse investment and expand government and commercial rideshare launch services. The deal alludes Mitsui & CO. is set to make inroads in the rocket launch rideshare business, following its prominence in a slew of sectors, including IT, energy production, and mining, among several others. The acquisition is set to go through the review by the Committee on Foreign Investment in the United States (CFIUS) that will assess the national security facets of the foreign direct investment in the U.S. economy. Reportedly, the review process may go on for months as the companies expect the deal to receive green signal in Q2 2020. After the deal transpires, Spaceflight’s modus operandi will continue to function as an independent U.S.-based company. General Manager of aerospace systems & rail leasing division in Mitsui & Co. Tomohiro Musha substantiated that Spaceflight has solidified its position as a distinguished company in the space industry, thereby making rideshare a viable alternative for smallsat launches. He went on to emphasize that the acquisition has served as a catalyst in foraying into the space landscape and has bolstered its footprints by providing seamless access to customers. Riding high on the success of Spaceflight and its approach of going an extra mile, he stated that Mitsui & Co. was exalted to have acquired the company. CEO and President of Spaceflight Curt Blake commented that the acquisition offers an unparallel opportunity to join a vibrant team of a “high-growth international portfolio,” providing investment opportunities and unabated expertise. According to the sources, there are chances that Spaceflight Industries will use the capital emanating from the deal in bolstering BlackSky business. For the record, BlackSky deals in geospatial intelligence business and has four Earth observation satellites operating in orbit. BlackSky exhibits company’s foray into satellite operations. Notably, BlackSky is contemplating launch of eight Earth observation satellites in 2020, incorporating four on a relentless mission obtained by Spaceflight aboard new Small Satellite Launch Vehicle (SSLV) of NSIL in India. Ever since Spaceflight first came into existence, it has launched staggering 271 satellites through 29 rocket launches. The company has an audacious plan to successfully launch over 10 missions this year through five various launch vehicles. Reportedly, Spaceflight’s first mission in 2020 is slated to be PSLV C49, to be launched in March. Source credit: https://finance.yahoo.com/news/spaceflight-industries-signs-definitive-agreement-233000730.html

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Bhushan Tambe

A qualified computer graduate, Bhushan Tambe always nurtured a passion for words. Post his education, he decided to transform his penchant of penning down poetry and stories into a full-time career. Presently, Bhushan writes numerous articles for cuereport.com and a few other websites, on subjects spanning business, finance, and the like.