Rocket Lab to acquire controlling stake in Mynaric

Broadcast Pro

15-03-2025

Rocket Lab will acquire a majority stake in Mynaric for an initial $75m, payable in cash or shares, with an additional $75m tied to revenue targets.
Rocket Lab has announced its intent to acquire a controlling equity position in Mynaric AG, a provider of laser optical communication terminals, pending regulatory approvals and the completion of Mynaric’s ongoing StaRUG restructuring proceedings under German law. The deal is set to finalise once Mynaric’s outstanding debt, currently held by certain lenders, converts into 100% equity ownership under the restructuring plan.
The acquisition, if completed, would enhance Rocket Lab’s position as a premier provider of satellite launch services, spacecraft manufacturing and satellite components. The company aims to fund this acquisition and future expansions through equity offerings. Rocket Lab plans to leverage its expertise in scaling satellite subsystems to make Mynaric’s optical terminals more affordable and readily available to meet growing market demands.
With an anticipated purchase price of approximately $75m—significantly lower than the over $300m previously invested in Mynaric—Rocket Lab would establish its first European base in Munich, Germany. This acquisition would bring more than 300 engineers and staff into Rocket Lab’s workforce, presenting new growth opportunities in the European space sector.
Through this deal, Rocket Lab would gain access to Mynaric’s production assets, intellectual property, product inventory, and committed backlog of satellite-to-satellite optical connectivity solutions. This acquisition aligns with Rocket Lab’s long-term strategy to vertically integrate its satellite manufacturing and operations.
A key factor driving this acquisition is Mynaric’s role as a subcontractor to Rocket Lab. Mynaric supplies CONDOR Mk3 optical communication terminals for Rocket Lab’s $515m contract with the Space Development Agency (SDA) to produce 18 satellites for the Tranche 2 Transport Layer-Beta. Both companies share a broad customer base, including commercial constellation operators, prime contractors and government agencies. Rocket Lab intends to scale Mynaric’s production and introduce efficiencies to ensure timely delivery and cost-effectiveness.
Rocket Lab founder and CEO Sir Peter Beck said: 'We have been very clear about this strategic direction for several years now – Rocket Lab is pursuing every part of the space value chain. We launch our own rockets, we build satellites in constellation volumes, and now we’re closing in on the final step and most valuable part of the space economy – operating our own constellations to provide data and services from space using our newly announced Flatellite spacecraft. Mynaric has paved the way in developing laser technology. Their team and technologies will make a compelling addition to our satellite component portfolio and we look forward to making the technology available at scale for our own constellations and those of our customers.'
Under the non-binding term sheet signed with the lenders, Rocket Lab would acquire 100% of Mynaric’s equity following the completion of the StaRUG restructuring and the execution of a definitive agreement. The acquisition price is expected to be payable in cash or Rocket Lab common stock, with the potential for additional earn-out consideration of up to $75 million based on future revenue milestones. If the lenders or their affiliates invest additional funds into Mynaric post-restructuring but before the acquisition closes, the purchase price could be adjusted accordingly.