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SpaceX acquiring satellite data start-up Swarm Technologies

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A Falcon 9 rocket launches the Transporter-1 mission in January 2021.

SpaceX

SpaceX is acquiring satellite data start-up Swarm Technologies, in a rare deal by Elon Musk’s space company that expands the team, and possibly the technological capabilities, of its growing Starlink internet service.

Swarm, which has 120 of its tiny SpaceBEE satellites in orbit, reached an agreement with SpaceX on July 16 to merge, according to an Aug. 6 filing with the Federal Communications Commission.

The company will become “a direct wholly-owned subsidiary of SpaceX upon consummation of the Proposed Transaction,” Swarm wrote in the filing.

Terms and financial details about the deal were not disclosed. SpaceX…



Source cnbc.com

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