by Richard Tomkins
Sparks, Nev. (UPI) Jun 20, 2013
Sierra Nevada Corporation plans to acquire Orbital Technologies Corporation, a sub-systems integrator and high-tech company.
Under a definitive agreement, ORBITEC will become a wholly-owned subsidiary of SNC once the transaction is completed and its technologies will be integrated into SNC's Space Systems.
Those technologies relate to liquid rocket propulsion and life science and support, which will enhance both SNC Space Systems' Propulsion and Spacecraft Systems' product lines.
"SNC has a relationship with ORBITEC that has proven to be extremely collaborative with our endeavors under the NASA Commercial Crew Transportation Capability Contract agreement and on the Dream Chaser program," said SNC President Eren Ozmen. "Their team's commitment to the safety and quality of human life in space to reliably expand mankind's exploration of space is in perfect alignment with SNC's Space Systems mission and our quest to return human space travel to America."
Added Tom Crabb, president of ORBITEC: "Merging with SNC integrates compatible cultures for rapid and efficient deployment of space technologies and products, and enables ORBITEC to accelerate commercialization of its high-performance and cost-effective products to market."
Financial terms of the transaction and expected time of closing were not provided by either company.
Rocket Science News at Space-Travel.Com
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