US manufacturer XCOR Aerospace has bought its Dutch spaceplane partner Space Expedition Corporation (SXC), the lead customer and general sales agent for its upcoming suborbital services. The takeover comes just a month after SXC led XCOR’s US$14.2m…
US manufacturer XCOR Aerospace has bought its Dutch spaceplane partner Space Expedition Corporation (SXC), the lead customer and general sales agent for its upcoming suborbital services.
The takeover comes just a month after SXC led XCOR’s US$14.2m Series B funding round of preferred shares, giving it a minority position in the Californian space flight and rocket developer and two members on its board.
Jeff Greason , XCOR’s CEO, said: “For the past two years, SXC has provided XCOR Aerospace with an expanding roster of new customers and commercial partners. As XCOR Space Expeditions, we look forward to making the most of their expertise and insights with customers and commercial partners.”
Financial details of the all-stock transaction were not disclosed.
The companies said XCOR Space Expeditions will continue to focus on securing customers and partnerships, as well as serving as an open channel for the Lynx spaceplane’s future sales agents.
XCOR aims to become the world’s most active space flight company, providing a high frequency of flights to bring costs down. It will compete in the space tourism market with the likes of Virgin Galactic, which is reportedly considering selling a stake to Google as the internet giant makes its long-awaited foray into the satellite sector.
XCOR’s Series B round, which had scheduled a second closing event over the summer, also featured existing investors including serial newspace investor Esther Dyson and Pete Ricketts, who co-owns of the Chicago Cubs baseball team. A number of Silicon Valley entrepreneurs and early-stage investors also participated.
