2007-09-23 - OHB invests in Space DevOHB invests in SpaceDev
Deutsche Raumfahrtfirma investiert in USA<br /> OHB Technology Group acquired 19% of the US listed SpaceDev Inc, Poway, CA, USA. OHB Technology AG and its subsidiary MT Aerospace AG made this collective investment into the strategic partner SpaceDev in form of a common stock sale in the amount of approximately USD 4.4 million (EUR 3.3 million).
A mutual high level management team actively explore manufacturing optimization, systems development, and future program opportunities in Europe as well as in the USA. SpaceDev offers OHB Technology direct access to the US aerospace market especially to upcoming new US government development programs and activities. Future US market penetration with OHB components and introducing SpaceDev products in the European aerospace marketplace will lead to significant new revenues, mutual manufacturing opportunities and will offer the collective use of technologies and expertise. SpaceDev will use cash inflow mainly to expand its research and development activities and for expansion capital.
OHB Technology see significant upside potential in the future of SpaceDev. The investment into the new US shareholding will be an excellent long term association. The companies have already begun exploring multiple opportunities to work together, particularly as SpaceDev bids on larger, new and exciting US government and commercial programs. OHB and MT Aerospace also participated on a number of transatlantic space programs, including the International Space Station (ISS) and SOFIA, the next generation airborne observatory.