Precious
Payload acquires HOSTmi to fast-track the rise of
the European commercial space industry
May 12, 2022
Precious
Payload announced the acquisition of HOSTmi GmbH, a
German space tech company, to fast-forward the
commercialization of the European space industry.
This strategic partnership will leverage Precious
Payload’s developer tools and other smart solutions
to lead joint projects, and strengthen existing
HOSTmi services.
Precious
Payload and HOSTmi have spent years building the
digital space marketplace using different solutions
to the same key challenges faced by satellite and
launch operators. Now, they can bring their
experience together to achieve a shared goal: using
software to bring space down to Earth for everyday
people.
The global
launch market is rapidly changing; in Europe, it is
moving at lightning speed. And now, with the rise of
digital technologies and new ways to connect with
clients, it's more important than ever to have a
competitive edge in both internal and external
markets to keep up with American counterparts.
On the other
side of the marketplace, access to space is
essential for companies looking to increase their
tech-readiness level, conduct tests, and operate in
orbit or microgravity. The ability to secure a
launch and related services affects decision-making
across the business, from product development to
staffing, fundraising, and mission design.
Co-founder and
CEO of Precious Payload Andrew Maximov said, “A big
push of EU and German companies specifically is to
create sovereign launch capability. This is the
right time for us to enter the European market with
our cutting-edge technologies through working with
HOSTmi.”
Precious
Payload’s business model is built on the simple
concept that time is money. Their software and
solutions handle the launch campaign and associated
tasks to free up the client’s expensive engineering
hours for perfecting the precious payload (the key
competitive advantage) and deliver maximum value.
Shahrokh
Khodabakhshi, HOSTmi’s Co-founder and CEO said: “We
are thrilled to have strengthened our platform and
services with Precious Payload's developments and
connections. HOSTmi continues to grow and will get
stronger with this new union.”
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