Space News reports that Saturn Satellite Networks has reached a deal to acquire NovaWurks, a California company that builds modular satellites.
Saturn and Novawurks did not disclose the terms of the transaction. Tom Choi, Saturn co-founder and executive chairman, told SpaceNews by email that the deal is “well into seven figures in U.S. dollars.”
Saturn, a firm founded by former executives of fleet operator ABS of Bermuda to build Nationsat, a digital platform for small geostationary satellites, signed a definitive agreement to acquire NovaWurks, a company that has conducted demonstrations of its Hyper Integrated Satlets (HISats) including a 2018 spaceflight demonstration for the U.S. Defense Advanced Research Projects Agency.
Saturn plans to acquire NovaWurks over three years for cash and stocks. Once the deal is completed, NovaWurks will become a wholly owned Saturn subsidiary and its shareholders will become minority shareholders of Saturn.
Through the acquisition, Saturn seeks to accelerate its Nationsat program.