According to Reuters, Max Polyakov, an entrepreneur with ambition to build a space transportation empire, has purchased South African satellite maker Dragonfly Aerospace.
The deal gives Max Polyakov a foothold in the booming yet highly competitive small-satellite technology market, as well as a possible revenue stream for Firefly Aerospace, which Polyakov’s Noosphere Ventures investment fund owns in majority.
He wouldn’t say how much the deal was worth when it was finalized earlier this month.
“This deal allows us cost control and mass part production,” Polyakov told Reuters. “It gives us the ability to have everything in-house.”
The acquisition comes amid a flurry of capital infusions aimed at a new breed of companies developing miniaturized launch systems to capitalize on the rapid growth of small satellites.
Polyakov hopes that Dragonfly’s satellites will be launched on Firefly’s Alpha rocket, which should make its debut before the end of June, according to Polyakov.
Polyakov intends to extend Dragonfly Aerospace’s presence in the United States and Europe by opening new facilities.
Polyakov’s Dragonfly aims to develop up to 48 satellites a year for commercial and civil customers.
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