Space startup financing provider Voyager Space Holding has announced its intent to acquire Altius Space Machines, a US-based space technology firm.

Subject to customary closing conditions, the terms of the deal were not disclosed by the two companies.

Altius was founded in 2010 by engineer and space entrepreneur Jon Goff, who served as lead propulsion engineer for Masten Space Systems when it secured the Northrop Grumman Lunar Lander Challenge in 2009, as part of Nasa’s Centennial Challenges Program.

Since its establishment, Altius has worked on several spacecraft technologies.

Altius specialises on satellite servicing systems, including technologies for grappling spacecraft. The company has also proposed its own satellite servicing system called Bulldog.

Altius would require additional funding for the Bulldog project.

Altius chief executive Jon Goff said: “As an entrepreneur in a leading-edge portion of the space market, it’s been challenging to secure the financial resources we’ve needed to deliver on our vision.

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“When the Voyager team explained their vision, I knew it was an amazing opportunity to not only accelerate bringing our Bulldog servicing vehicle to market but also to make a bigger difference in the entrepreneurial space industry.”

Founded as a holding company for emerging space companies by space industry investor Dylan Taylor, Voyager provides the capital needed for the growth of commercial space companies.

Altius is the first company to be acquired by Voyager since it launched the vertically integrated NewSpace holding company.

Voyager president and COO Matthew Kuta said: “We’ve seen a transition in the last few years where large satellite operators are looking for new ways to maximise the lifespan of their space-based assets.

“Altius is a market leader, blazing the trail for on-orbit servicing technology in our industry.”