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NovaWurks To Be Acquired By Saturn Satellite Networks For Cash, Stock

Saturn Satellite Networks, a firm intending to fabricate and deliver tiny geostationary satellites to consumers in orbit, aired their intentions to buy a California-based firm, NovaWurks, which has built modular satellites. The transaction terms are yet not revealed by NovaWurks and Saturn. The Executive Chairman and Co-founder of Saturn, Tom Choi, told SpaceNews through email that the transaction is “well into 7 numbers in US dollars.”

Saturn, a firm established by former officials of fleet operator ABS of Bermuda to develop a digital platform, NationSat, for small geostationary satellites, inked a definitive pact to buy NovaWurks, a firm that has performed demos of its Hyper Integrated Satlets (HISats), comprising a 2018 spaceflight demo for the US Defense Advanced Research Projects Agency.

The company intends to buy NovaWurks during the course of 3 Years for stocks and cash. After the agreement is sealed, NovaWurks will be a Saturn-owned subsidiary entirely and its stockholders will become Saturn’s minority stockholders. Through the acquirement, Saturn intends to speed up its NationSat program.

Saturn executive chairman, Tom Choi, said, “Rather than developing a spanking new and unverified platform, we’ll utilize the proven and reliable HISat system to boost the building of the NationSat geostationary Earth orbit system along with other low and medium Earth orbit constellation designs being built at Saturn Satellite Networks.”

Likewise, a pioneer in optical wireless communications solutions and services, BridgeComm, Inc., recently declared that it has inked a cooperative contract with Saturn. BridgeComm will be backing new communications architectures facilitating high-speed, secure communications of Saturn. BridgeComm will function to offer the company with systems engineering and optical communications system design. Also, BridgeComm will be backing Saturn with ground communications services and key design parameters. Finally, BridgeComm and Saturn will collectively function to back commercial as well as the US Government customer solutions.

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