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VIENNA, Va., 31 May 2006. Space Adventures Ltd. has entered into an agreement to acquire Space Launch Corporation, based in Fountain Valley, Calif.
The acquisition will infuse Space Adventures with a technology development capability and access to significant space system intellectual property that will be leveraged to bring to market future space tourism vehicles in the U.S.
"The acquisition of Space Launch will enhance our access to, and in-depth knowledge of, cutting-edge aerospace technology," says Eric Anderson, president and CEO of Space Adventures.
Space Launch will function as a wholly-owned subsidiary of Space Adventures.
The Space Launch Corporation was formed in 1999 to develop and bring to market products and services for the satellite launch industry.
Focused primarily on the development of aerospace vehicles, the Space Launch Corporation has spent the past five years working with the U.S. government on new launch systems and their related technologies, successfully executing on contracts exceeding $25 million.
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