SpaceX Acquires Swarm Technologies

Issue 83

Elon Musk’s SpaceX has taken further steps to its mission to provide high-speed internet to people anywhere in the world. The company recently acquired satellite data start-up Swarm Technologies which has a total of 120 of its satellites in orbit.

The merger, which was originally agreed upon on July 16, 2021, will result in the transfer of total control of all Swarm satellites over to SpaceX. SpaceX has stated that the company is pleased to have gained the intellectual property and expertise offered by Swarm and will utilize the new technology to increase the capabilities of the Starlink Constellations.

Swarm’s satellites, which are known as SpaceBees, are the smallest commercial satellites to operate in space. The financial information associated with the merger has yet to be obtained but more information is expected to be released within the coming weeks.

Source: CNBC