Sidus Space Acquires Edge Computing Company Exo-Space
Sidus Space is acquiring Exo-Space to expand into the AI sector and improve its solutions for the Earth observation market. Sidus Space is a satellite manufacturing and space services company developing the multi-mission LizzieSat constellation.
Sidus Space said that Exo-Space’s technology in AI edge computing for software and space hardware complements its own. The company plans to integrate Exo-Space’s AI into its business lines and to market the hardware for third-party purchase, and the combination will improve how Sidus customers can leverage space-based data.
The deal announced Tuesday is a combination of cash, stock options, and performance bonus incentives. According to filings with the Securities and Exchange Commission (SEC), Sidus paid approximately $468,000 in cash for the company.
Sidus Space CEO Carol Craig said the acquisition expands the company’s talent, technology, and total addressable market and includes Exo-Space’s sales contracts and pipeline.
“This transaction provides the opportunity for us to enhance our presence in the Earth and space observations markets by providing actionable solutions for our customers’ needs as opposed to just raw data. The integration of Exo-Space EdgeAI technology with Sidus’ sensors provides significant value and transformative potential across various domains,” Craig said.