The launch was originally scheduled for June, but had to be put off several times due to technical concerns, weather delays and range schedule conflicts. This time around, the countdown proceeded smoothly to liftoff from Launch Complex 39A at NASA’s Kennedy Space Center at 1:12 a.m. ET Aug. 7 (10:12 p.m. PT Aug. 6).
Today’s announcement of the transaction’s completion follows up on February’s announcement of the sale for an undisclosed amount. Spaceflight Industries’ other subsidiary, BlackSky Global, isn’t part of the transaction and will continue to operate as a privately held company with offices in Seattle and Herndon, Va.
Spaceflight Industries also has a 50% share in LeoStella, a satellite manufacturing company based in Tukwila, Wash. The other half of that joint venture is owned by Thales Alenia Space, a French-Italian aerospace company.
Mitsui and Yamasa will similarly split ownership of Spaceflight Inc. as a 50-50 joint venture, operating independently with its headquarters remaining in Seattle.
The sale brings a parting of the ways for Spaceflight Inc., which focuses on arranging launch services for rideshare satellites; and BlackSky, which is building a satellite constellation for Earth observation and provides geospatial data analysis tools.
How do you know when a region’s economy has recovered from the coronavirus pandemic? You could wait for the verdict from the unemployment figures, gather reports from individual businesses and scan news reports about business reopeniings. You could count how many cars show up in the parking lots of factories and shopping centers. Or you could just let Spectra do all of that.
Seattle-based BlackSky’s Spectra geospatial data platform can combine satellite imagery and other data inputs to generate insights that are greater than the sum of their parts. It’ll even use AI-enabled image recognition to count the cars.
As the COVID-19 crisis progresses, Spectra is learning how to recognize the early signs of recovery, or the telltale signs of a rebound.
“That’s what BlackSky is really all about: How can we inform you that something is happening, or something is going to happen, before you hear it from anywhere else?” said Patrick O’Neil, director of machine learning and artificial intelligence.
The definitive share purchase agreement, reached with Mitsui & Co. Ltd. in partnership with Yamasa Co. Ltd., will have to be reviewed over the next few months by the Committee on Foreign Investment in the United States to evaluate national security aspects of the acquisition — but the companies expect the deal to be approved by midyear.
Financial terms were not disclosed.
Spaceflight Industries said it would leverage the capital from the Spaceflight Inc. deal to accelerate the growth of BlackSky, its geospatial intelligence business. BlackSky already has four of its own Earth-observing satellites in orbit and plans to add eight more to the constellation this year. Four of those satellites are due to be sent into orbit on the maiden launch of India’s SSLV rocket.
Seattle-based Spaceflight Industries, which has taken on a string of high-profile satellite missions over the past year, is in the midst of a new funding round, according to a filing with the Securities and Exchange Commission.
The Nov. 14 filing indicates that nearly $39.5 million of the offered amount has been sold to 33 investors, leaving $389,580 remaining in the round.