Germany’s OHB Makes Investment In SpaceDev

[09-20-07 – Satellite Today]  OHB Technology Group of Germany has acquired part of SpaceDev Inc. of California, the companies announced Sept. 19.

OHB, which has operations in satellite, space hardware manufacturing and advanced space payload systems development, will use the relationship to further its reach into the United States, while SpaceDev will have greater access to the European market for its space products and mission solutions, the companies said.

‘The companies have already begun exploring multiple opportunities to work together, particularly as SpaceDev bids on larger, new and exciting programs and moves toward their goal of becoming a mid-market aerospace company,”Hans Steininger, CEO of MT Aerospace, said in a statement.

OHB Technology AG and subsidiary MT Aerospace paid about $4.4 million for  a 19 percent stake in SpaceDev, which will use the capital to expand its research and to retire previous interest bearing preferred stock.

"We believe this new SpaceDev, OHB and MT Aerospace alliance will lead to significant new revenues, manufacturing opportunities and markets for our products, technologies and expertise in the European aerospace marketplace,”Mark Sirangelo, chairman and CEO of SpaceDev, said.