Posted: Thu, Sep 20, 2007, 7:03 AM ET (1103 GMT)
German aerospace company OHB-System has bought a minority stake in US space company SpaceDev as a way to enter the American market, the companies announced Wednesday. OHB will purchase 19 percent of SpaceDev for $4.4 million; SpaceDev will use the money for R&D and expansion work. The deal gives the German company, which has a growing presence in the European space industry, "direct access" to the US market, including government programs. The companies pitched the deal as also a way to open up European markets to SpaceDev. OHB has worked on a number of satellite programs, including the SAR-Lupe radar satellite constellation for the German military; SpaceDev has also worked on small satellites as well as other spacecraft components and propulsion systems, and also bid on NASA's COTS program for commercial ISS access last year.
