The Voyager Technologies ($VOYG) family is getting a little bit bigger.
The broad-spanning space tech company announced Monday that it is acquiring ExoTerra Resource, a CO-based company building electric satellite propulsion systems. The companies did not disclose the financial details of the deal.
There’s a distinct defense-focused flavor to it all. About half of Voyager’s business is on the defense side, and ExoTerra’s experience building propulsion tech for the DoD is likely to help deepen that expertise, especially as Voyager preps to compete for Golden Dome initiatives.
“We’ve spent years developing efficient, compact, and reliable electric-propulsion systems, and joining forces with Voyager allows us to enhance and deliver these systems at scale,” Mike VanWoerkom, ExoTerra CEO, said in a release. “Together, we’ll manufacture flight-proven propulsion technologies that fortify the nation’s ability to manufacture and field spacecraft with speed, resilience, and cost efficiency.”
Building at home: ExoTerra’s electric thrusters, called Halo, are already used in DoD programs: They’re aboard York Space Systems’ satellites for the SDA’s strategic constellation, and they’ve been tested through a DARPA program on the Blackjack Aces craft.
“As freedom of maneuver becomes central to space control and deterrence, it’s imperative that reliable propulsion systems are built, tested and qualified right here in the United States,” Dylan Taylor, CEO of Voyager, said.
+ Market check: $VOYG went public via IPO this year, soaring to reach a $3.8B valuation on IPO day. Its stock is trading down 40% since then, with a market cap of $1.98B, though shares have risen from $31 since the IPO. After Voyager announced its ExoTerra acquisition yesterday, the stock saw a brief jump but quickly leveled out, and ended the day trading at $33.25 per share.
Correction: An earlier version of this story misstated the original IPO price for $VOYG.
