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Astroscale acquiring satellite servicing company
Posted: Sat, Jun 6, 2020, 3:40 PM ET (1940 GMT)
Astroscale is moving into the geostationary satellite servicing market by acquiring another company's technology. Astroscale announced Wednesday it is acquiring the intellectual property of the satellite-servicing company Effective Space Solutions, which had been developing a servicing vehicle known as Space Drone. Astroscale is acquiring the intellectual property associated with Space Drone and is hiring engineers and executives from the program, with Arie Halsband, founder and CEO of Effective Space Solutions, serving as managing director of Astroscale Israel in Tel Aviv. Astroscale has been developing its own technologies for removing dead satellites from low Earth orbit, and is in the middle of a Series E fundraising round.
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