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.

Related Links:

•  Space News article (subscription required)
•  OHB press release
•  SpaceDev press release