SpaceX to buy Swarm Tech.
August 10, 2021
By Chris Forrester
Swarm Technologies makes tiny cube-satellites. SpaceX has filed a request with the FCC to transfer all of Swarm satellite licences to SpaceX.
The FCC application states that Swarm is being sold to SpaceX. Swarm is focused on providing connectivity for Internet of Things products and applications.
Swarm has some 150 of its cube-satellites into orbit.
The full FCC notification says: “Swarm Technologies, Inc. (“Swarm” or “Transferor”) and Space Exploration Technologies Corp. (“SpaceX” or “Transferee”) (together, the “Applicants”) hereby request Federal Communications Commission (“Commission”) consent to transfer to SpaceX control of the earth and space station licenses held by Swarm, a US-licensed satellite operator in the non-voice, non-geostationary mobile-satellite service (“NVNG MSS”) authorized to operate in the 137–138 MHz and 148–150.05 MHz bands (the “NVNG VHF Bands”). Swarm and SpaceX have executed a merger agreement pursuant to which, as described more fully in Section I.C below, Swarm will become a direct, wholly-owned subsidiary of SpaceX (the “Proposed Transaction”).”
The FCC notice adds: “On July 16, 2021, SpaceX, Swarm, Swarm Holdco, Inc., a Delaware corporation and wholly-owned subsidiary of SpaceX (“Merger Sub”), and Dr. Sara Spangelo, solely in her capacity as Stockholder Representative, entered into an Agreement and Plan of Merger (“Merger Agreement”). The Merger Agreement provides for the merger of Merger Sub with and into Swarm (the “Merger”), with Swarm surviving the Merger as a direct wholly-owned subsidiary of SpaceX upon consummation of the Proposed Transaction.”
SpaceX says: “The Proposed Transaction will serve the public interest by strengthening the combined companies’ ability to provide innovative satellite services that reach unserved and underserved parts of the world. Swarm’s services will benefit from the better capitalization and access to resources available to SpaceX, as well as the synergies associated with acquisition by a provider of satellite design, manufacture, and launch services. SpaceX will similarly benefit from access to the intellectual property and expertise developed by the Swarm team, as well as from adding this resourceful and effective team to SpaceX. In all, the Proposed Transaction will benefit the public interest by providing both companies with valuable resources to support success in the rapidly growing satellite industry.”