Rocket Lab Corp. fetched yet another international acquisition.

The company announced last week that it cleared regulatory approval to acquire Munich, Germany-based Mynaric AG, which provides laser optical communications terminals for air, space and mobile applications. The deal, which includes $75 million upfront and up to another $75 million tied to revenue targets, is expected to close in April.

“Receiving regulatory approval is an important milestone on the path to acquiring Mynaric. We’re an exciting step closer to expanding our ability to support the German and European space industry at a much greater level,” said Rocket Lab founder and Chief Executive Peter Beck in a statement. “Laser communications are a critical enabler for the constellations of today and tomorrow, and Rocket Lab is going to make them available at scale.”

Rocket Lab said the acquisition will help the company tackle laser communication supply shortages and affordability.

“Through previous acquisitions Rocket Lab has a strong track record of taking satellite subsystems and components previously only available in subscale quantities and with long lead times and make them affordable and available at scale,” the statement added. “Rocket Lab intends to do the same with Mynaric’s optical terminals to serve a growing list of customers and large constellations.”

Mynaric already has a working relationship with Rocket Lab, supplying optical communication terminals for Rocket Lab’s $1.3 billion prime contracts with Space Development Agency, developing 36 satellites for Proliferated Warfighter Space Architecture programs.

First European station

Following the acquisition, Mynaric will stay in Munich and serve as Rocket Lab’s first European station. It joins a series of acquisitions that the rocket launch services and space systems company closed this year, including Optical Support Inc. and Precision Components. Rocket Lab also acquired Geost last year, which marks the company’s breakthrough into the satellite payload market. 

“We do acquisitions that bring new capabilities into the company and interest into new markets, and then we do acquisitions that basically further vertically integrate our supply chain and de-risk execution,” Rocket Lab Chief Financial Officer Adam Spice told the Business Journal last month, regarding the significance of the previous purchases. “Rather than have to rely on somebody else determining how important your business is to them, you basically just acquire that capability, and then you control those resources.”

Following recent moves in the aerospace industry – such as Space Exploration Technologies Corp.’s confidentially filed plans for an initial public offering last Wednesday – Rocket Lab’s shares got a significant bump. Closing at $57.38 a share on Monday, its stock rose 14% to close at $65.52 a share by Wednesday.

With aerospace defense gaining considerable attention, the company has become one of the major public contractors in the sector. Last month, it announced a $190 million contract with U.S. Department of Defense for 20 hypersonic test flights, which boosted its contracted backlog to over $2 billion as its largest launch deal so far.

Rocket Lab is currently valued at $44.6 billion, with a 38% revenue growth last year to reach $602 million.