SpaceX Buys Satellite Data Startup For Internet To Take Over Earth

 


SpaceX acquired satellite -based data provider startup Swarm Technologies. Elon Musk apparently bought it to grow the team and possibly Starlink’s emerging internet services technology capabilities.
Swarm, which has 120 small SpaceBEE satellites in orbit, reached an agreement with SpaceX on July 16, 2021 to merge with Elon Musk’s company, based on an Aug. 6 filing with the Federal Communications Commission.



Quoted from CNBC, Tuesday (11/10/2021) Swarm will become a full -fledged subsidiary of SpaceX once the transaction is completed. The terms and financial details of the agreement were not disclosed.





According to Pitchbook, Swarm last completed the funding round in January 2019 with a value of USD 85 million. This seems to be enough to make Elon Musk glance at the start.



Interestingly, the deal marks an extraordinary acquisition for SpaceX, which tends to design and build systems in -house. However, SpaceX also didn’t find it easy to get Swarm to join it, as an FCC license can be very difficult and time consuming to finally get approved.



“Flock services will benefit from better capitalization and access to resources available at SpaceX, as well as synergies related to acquisitions by satellite design, manufacturing and launch service providers,” the document said.













On the other hand, Swarm also stated that this acquisition will benefit SpaceX with access to the intellectual property and expertise developed by the Swarm team.



Keep in mind, Starlink is Elon Musk’s ambitious project to cover the Earth with an internet network. Through SpaceX, the project builds an interconnected internet network of thousands of satellites known in the space industry as constellations.
SpaceX Buys Satellite Data Startup For Internet To Take Over Earth SpaceX Buys Satellite Data Startup For Internet To Take Over Earth Reviewed by thecekodok on 5:48:00 AM Rating: 5
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