Rocket Lab USA Inc (NASDAQ:RKLB) shares are trading higher after the company announced it has acquired SolAero Holdings for $80 million in cash.
"We are very excited to join the outstanding team at Rocket Lab and contribute to their track record of innovation and on-orbit success," said SolAero President and CEO, Brad Clevenger.
"As Rocket Lab builds on its capability to provide complete mission solutions, SolAero is a natural fit for Rocket Lab. We look forward to becoming an integral part of Rocket Lab's Space Systems business while continuing to offer all of our customers premier capability and value," Clevenger stated.
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Rocket Lab is engaged in space, building rockets and spacecraft. It provides end-to-end mission services that provide frequent and reliable access to space for civil, defense and commercial markets. It designs and manufactures the Electron and Neutron launch vehicles and Photon satellite platform.
Rocket Lab has a 52-week high of $21.34 and a 52-week low of $9.50.
