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SpaceX will acquire satellite connectivity startup Swarm Technologies, the first such deal for the 19-year-old space company led by Elon Musk.
Swarm operates a constellation of 120 sandwich-sized satellites as well as a network of ground stations. The deal would transfer control of the land and space licenses from Swarm to SpaceX, in addition to any licenses pending before the commission. If the transaction is approved, the startup would become a “100% direct subsidiary” of the larger company.
The acquisition, which was reported in secret files with the Federal Communications Commission, marks a radical departure from the launch giant’s established strategy of developing its technology in-house.
The deal was reportedly concluded between the two companies on July 16. The documents filed by the FCC do not disclose any financial details or terms of the transaction. Neither SpaceX nor Swarm could be reached for comment.
“Swarm’s services will benefit from better capitalization and better access to the resources available to SpaceX, as well as synergies associated with the acquisition by a provider of satellite design, manufacture and launch services,” said stated the companies on file. For SpaceX, the company “will equally benefit from access to intellectual property and expertise developed by the Swarm team, as well as the addition of this ingenious and efficient team to SpaceX.”
What this means for SpaceX’s operations, especially its Starlink satellite network, is unclear, as these satellites operate in a different frequency band than Swarm. In the short term, Swarm CEO Sara Spangelo told TechCrunch last month that the company is “still marching” toward its goal of operating a constellation of 150 satellites.
Compared to SpaceX, Swarm is a relatively new company. It raised a $ 25 million Series A almost exactly three years ago, in August 2018, but it didn’t launch commercially with its flagship until early this year. This product, the Tile, is a small modem that can be integrated with various connectivity devices and linked to the satellite network to allow users to power Internet of Things devices at low cost.
Swarm Evaluation Kit. Image credits: Swarm (Opens in a new window)
Swarm also launched its second product last month, the $ 499 Trial Kit, an all-in-one package designed to give anyone the ability to build an IoT device using a Tile, a solar panel and a few other components.
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