Rocket Lab’s centre of gravity has shifted further away from New Zealand and towards North America after it announced it would buy United States space solar tech company SolAero for US$80 million (NZ$118 million).
Rocket Lab will take on 425 staff as a result of the acquisition, which is expected to be complete by the end of March.
That will take Rocket Lab’s total number of staff to more than 1100, of whom spokeswoman Morgan Bailey confirmed 525 were currently based in New Zealand.
Rocket Lab, which is already headquartered in the US and listed on the Nasdaq stock exchange, will manufacture and launch its next line of larger Neutron rockets in the US.
But founder Peter Beck, who remains based in New Zealand, has said elements of the development work for the new rocket will be spread across its operations.
So far, Rocket Lab has launched all its smaller Electron rockets from the Māhia Peninsula near Gisborne, though it has built an additional pad for the rockets in Virginia.
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Rocket Lab has long cited the relative ease of clearing air and sea corridors for rocket launches in New Zealand as one of its competitive advantages.
SolAero manufactures solar cells that are used to power orbiting spacecraft.
Rocket Lab said in a statement that the purchase fitted in with its strategy of expanding its business to create a “comprehensive space solution” spanning spacecraft manufacture, satellite subsystems, flight control software and ground operations, as well as launches.
The acquisition is its third and largest this year, following the purchases of space software company ASI Aerospace LLC in October and spacecraft separation systems company Planetary Systems Corporation.
Rocket Lab’s share price closed at US$11.68 a share on Tuesday morning, New Zealand time, after spending much of November in higher territory above US$15.
