Will Be Cornerstone Of New Space Systems Business Area

Sierra Nevada Corporation President, Eren Ozmen, announced Monday SNC has completed the acquisition of SpaceDev Inc, following the passing of company founder Jim Benson in October.

"The acquisition of SpaceDev, which has a tremendous space heritage with products that have flown on 250 spacecraft, represents a dynamic expansion of SNC's space technology capabilities, proven system integration, communications, networking and intelligence capabilities in the space sector," said Fatih Ozmen, CEO of SNC.

"We believe that combining SpaceDev's unique technological offerings, manufacturing capabilities and talented team with our existing space business and technology base will allow us to significantly increase our capacity and scalability while better serving our customers and making us a leader in space technology with access to a much wider customer and technology base."

SNC has formed a new Space Systems Business Area with the SpaceDev acquisition, SNC's subsidiary, MicroSat Systems, and the other SNC space operations and capabilities that will provide advanced satellite systems, propulsion systems, space vehicle systems and a wide array of subsystems and components to defense, civil government, and corporate customers.

SpaceDev has 170+ employees in its three locations; Poway, CA; Louisville, CO; and Durham, NC. SNC says those employees will be "adding a notable talent base" to its capabilities.

FMI: www.sncorp.com, www.spacedev.com