Sir Peter Beck’s Rocket Lab has received German regulatory approval to go ahead with its $150 million (€130.1m) acquisition of satellite laser business Mynaric AG.

The transaction was reviewed and approved by Germany’s Federal Ministry for Economic Affairs and Energy and as a result, Rocket Lab expects the transaction 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 Beck. “Laser communications are a critical enabler for the constellations of today and tomorrow, and Rocket Lab is going to make them available at scale. We look forward to joining forces with the Mynaric team so that we can make optical terminals available at the volume and pace that commercial and government satellite customers demand across Europe and our existing markets.”

The move on Mynaric extends Rocket Lab’s all ‘in house’ production commitment. Analysts at Cantor Fitzgerald, in a note to clients on March 30, kept Rocket Lab as “Overweight” and was very bullish on the rocket company’s prospects. The general consensus is that Rocket Lab could soon start rivalling SpaceX as a powerful alternate for businesses wanting to launch satellites into orbit.

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Tags: mynaric, Peter Beck, RocketLab