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Sidus Space, a satellite manufacturing and space services company, has recently acquired Exo-Space in order to expand into the AI sector and enhance its solutions for the Earth observation market. The acquisition will allow Sidus Space to integrate Exo-Space’s AI technology into its existing business lines and offer the hardware for third-party purchase.

The deal, which was announced on Tuesday, involves a combination of cash, stock options, and performance bonus incentives. According to filings with the Securities and Exchange Commission (SEC), Sidus paid approximately 8,000 in cash for the acquisition. This strategic move is aimed at improving how Sidus customers can leverage space-based data.

Sidus Space CEO Carol Craig stated that the acquisition will not only expand the company’s talent and technology but also its total addressable market. The deal also includes Exo-Space’s sales contracts and pipeline, further enhancing Sidus Space’s offerings in the Earth and space observations markets.

With Exo-Space’s expertise in AI edge computing for software and space hardware, the integration of their technology with Sidus’ sensors will provide significant value and transformative potential across various domains. The acquisition will enable Sidus Space to offer actionable solutions for customers’ needs, going beyond just raw data.

By expanding into the AI sector, Sidus Space is positioning itself to stay at the forefront of technology advancements in the Earth observation market. With the acquisition of Exo-Space, Sidus Space aims to provide enhanced services and capabilities to its customers, driving innovation and growth in the industry.

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