Satellogic completes investment in Officina Stellare
by Staff Writers
New York NY (SPX) Nov 09, 2022
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation ("EO") data collection, has announced the completion of an ~5% investment in Officina Stellare ("OS"). This includes an option for Satellogic to expand its ownership to up to 12% in the next 36 months and the appointment of Emiliano Kargieman, CEO and Co-Founder of Satellogic, to the OS Board of Directors.
OS, a publicly traded Euronext Growth Milan company headquartered in Sarcedo - Vicenza, is widely recognized as a leader in the design and production of optomechanical instrumentation for aerospace, research, and defense sectors. OS continues to be a telescope provider for Satellogic and specializes in communication, optical, and quantum applications that are the backbone infrastructures for the rapidly growing Space Economy.
"Acquiring a significant ownership interest in Officina Stellare represents a strategic investment in a key industry supplier, and is a large step towards furthering our own vertical integration and greater supply chain resiliency," said Satellogic's Emiliano Kargieman. "Our vertical integration enables Satellogic to have shorter R and D cycles, faster innovation cycles and lower satellite costs compared to competitors, and we believe this approach will continue to unlock commercial opportunities in the market."
"Officina Stellare brings an experienced, dynamic team which complements our development and innovation capabilities. This is an exciting opportunity not only to help guide their delivery of advanced optomechanical instrumentation, but also facilitates our own collaborative growth in commercial markets and customer-centric innovation," added Kargieman.
Gino Bucciol, Co-founder and VP of Business Development at OS, said: "Officina Stellare and Satellogic have always shared a common drive for customer innovation and industry disruption, and together we are positioned to bring both into the New Space Economy. This is a starting point for our collaboration, and we look forward to expanding our aerospace capabilities and greater market penetration."
PCX Aerosystems acquires Timken Aerospace Drive Systems
Newington CT (SPX) Nov 08, 2022
PCX Aerostructures, a leading manufacturer of highly engineered, precision, Flight Critical aerospace components and complex assemblies for rotorcraft and fixed wing aerospace platforms, has completed the acquisition of Manchester, CT based Timken Aerospace Drive Systems (ADS), a proven source for aerospace transmission assemblies, gearboxes, Flight Critical components and overhaul and repair services. ADS will be rebranded as "PCX Aerosystems - Manchester LLC." "Manchester brings a deep history a ... read more
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