SpaceX is acquiring a satellite connectivity startup called Swarm Technologies, which marks the first outside acquisition of the company in its 19-year history. The financial details or terms of the deal have not been revealed in the FCC (Federal Communications Commission) filings, but the deal will see Swarm transferring control of its ground and space licenses to SpaceX, becoming a wholly-owned subsidiary.
Founded in 2018, Swarm manages a constellation of 120 iPhone-sized satellites called SpaceBEEs along with a ground station network. Operating on a different frequency than SpaceX’s, the satellites offer a low-cost network to link IoT devices embedded with the Swarm Tile, the company’s first commercial product launched earlier this year.
