New Zealand and the State of Colorado have agreed to deepen relationships and offer opportunities in aerospace, quantum and geothermal technologies and beyond, Space Minister Judith Collins says.
Ms Collins signed a Memorandum of Cooperation with Colorado State Governor Jared Polis while attending the 40th Space Symposium in Colorado Springs.
“Today marks a significant moment in the strengthening of ties between New Zealand and Colorado,” she says.
“When Mr Polis and I first met a year ago we agreed to work to strengthen our partnership to further cooperation in science and technology, including in aerospace, quantum and geothermal technologies.
“This Memorandum of Cooperation formalises that we’re on the same page when it comes to the things that will drive economic growth, including research and development, company exchanges, regional technology hubs and innovation ecosystems that advance strategic industries,” Ms Collins says.
The Memorandum of Cooperation encourages increased collaboration between New Zealand and the State of Colorado across multiple areas including:
Ms Collins says the agreement encourages engagement, and will deepen New Zealand’s commercial relationships as well as establishing links to develop new ones.
“Increasing collaboration will be a win-win for those looking to invest in New Zealand companies or start-ups, and the same applies for those looking to invest in opportunities in Colorado,” Ms Collins says.
The Memorandum of Cooperation can be found on the MBIE website.
Notes to editors:
New Zealand–Colorado Collaboration
https://www.beehive.govt.nz/
The Coalition Government today released a multi-billion dollar plan for a modern, combat-capable New Zealand Defence Force (NZDF) that pulls its weight internationally and domestically.
“Global tensions are increasing rapidly, and New Zealand has stepped up on the world stage, but our current Defence spending is simply too low,” Prime Minister Christopher Luxon says.
“This new Defence Capability Plan contains $12 billion of funding over the next four years, which includes $9 billion of new spending. This will raise New Zealand’s defence spending from just over one per cent of GDP to more than two per cent in the next eight years.
“This blueprint has been designed with a 15-year horizon but deliberately focuses on critical investments needed in the next four years to ensure our Defence Force can adapt as the world around us changes.
“The Government has committed to reviewing the plan every two years. Put simply, this is the floor, not the ceiling, of funding for our Defence Force.
“I want to acknowledge our coalition partners, New Zealand First and ACT, for their unwavering support in advancing this plan – and note New Zealand First previously drove the procurement of our new P-8A and Hercules aircraft.”
Defence Minister Judith Collins says the world is inherently more dangerous and our personnel are at the frontline of New Zealand’s security.
“They cannot do their jobs without the right equipment and conditions.
“This plan outlines what resources, equipment and support we need to modernise the NZDF to operate now and in the future,” Ms Collins says.
The 2025 Defence Capability Plan outlines indicative investments to ensure the NZDF is:
Combat capable with enhanced lethality and deterrent effect: This includes increased strike capabilities which will increase our ability to deter actions counter to New Zealand’s interests.
A force multiplier with Australia and interoperable with partners: New Zealand and Australia have committed to modernise our alliance and further strengthen our bilateral defence relationship, including the development of a more greatly integrated “Anzac” force.
Innovative and has improved situational awareness: Innovation in this plan covers new ways of doing things, as well as exploring new technologies for the NZDF such as uncrewed vehicles, new space technologies, and increased funding for Defence Science & Technology.
Ms Collins says the men and women of the NZDF have endured 35 years of cuts and underfunding.
“They join up to serve the people of New Zealand, however that is needed, and we feel immense pride and gratitude when we see them stepping up and into situations that the rest of us are running from,” Ms Collins says.
“But the way they were used for a prolonged period of time to patrol Managed Isolation Facilities during Covid led to many experienced personnel – those with 10-15 years’ experience – leaving for other career options.
“That has left us with a hollowed-out middle in our personnel, and this plan allows us to address that. Already our attrition has fallen from 15.8 percent in December 2022 to 7.5 percent in February 2025 – but we know we need to rebuild the core of the NZDF so we can fully utilise the ships, aircraft, vehicles and weapons we already have, while looking to what is needed in the future.
“Our personnel are expected to be called upon more often, in more places, and for longer. For this, they must be equipped and trained for a range of operations, to be more combat capable and able to deter actions adverse to our interests while also being ready to provide essential humanitarian assistance and disaster relief.
“This plan does that. It gets our NZDF out of the intensive care unit and not just growing but growing where we need it to.”
Note to editors:
Defence Capability Plan 2025 is the Government’s plan to rebuild the NZDF and prepare for an increasingly volatile world.
Major investments 2025-2028:
Enhanced strike capabilities
Frigate sustainment programme
Persistent surveillance (uncrewed autonomous vessels)
Replacing the maritime helicopters
Javelin anti-tank missile upgrade
Network Enabled Army
Special Operations sustainment
Vehicles for the NZDF
Counter uncrewed aerial systems (UAS)
Long-range remotely piloted aircraft
Replacing the Boeing 757 fleet
Space capabilities
Enhancing cyber security capabilities
Enterprise resource planning
Improved intelligence functions
Updating classified digital services
Accommodation, messing, and dining modernisation
Defence estate regeneration
Defence housing programme
Future Devonport naval base design
Ohakea infrastructure programme
Defence, Science & Technology uplift
Technology Accelerator
Information management
Digital modernisation
Logistics resilience
Consolidated Logistics Project infrastructure
Implementing a workforce strategy
For the full list of indicative investments over the next 15 years, refer to the 2025 Defence Capability Plan.
GDP measure: To allow for international comparison we have aligned our forecast calculation to Stockholm International Peace Research Institute (SIPRI) reporting, as recommended by The Treasury.
The attached graph shows New Zealand’s historic spend profile on Defence, as a percentage of GDP, and the forecast spend as a result of this Defence Capability Plan. The uplift in spending shown in the graph between 2018 and 2021 reflect the investment made in the P-8A Poseidon and C-130J-30 Hercules aircraft.
Source: https://www.beehive.govt.nz/
TORONTO, ON, April 1, 2025 – HEALWELL AI Inc. (“HEALWELL” or the “Company”) (TSX: AIDX, OTCQX: HWAIF), a healthcare artificial intelligence company focused on preventative care, is pleased to announce the Company has acquired all of the ordinary shares of Orion Health, a global healthcare intelligence platform serving marque public sector clients, for total consideration of approximately NZD$175 million plus a performance based earn-out of up to a further NZD$25 million (the “Transaction”) in accordance with the share purchase agreement dated December 16, 2024, as amended (the “Agreement”), among the Company, HEALWELL New Zealand Limited, Orion Health, McCrae International Limited (“McCrae International”), and McCrae Limited (the “Vendor”).
Dr. Alexander Dobranowski, CEO of HEALWELL, commented, “We are thrilled to welcome Orion Health to the HEALWELL family and are excited at the potential of creating a powerhouse of innovation that will deliver actionable insights and drive better healthcare outcomes globally. The acquisition of Orion Health represents a transformative milestone for the Company, bringing large enterprise customers, recurring revenues, strong operating margins and free cashflow conversion to HEALWELL while providing a significant new channel for the distribution of our best-in-class AI products. In addition, the acquisition strengthens our position in the public sector, enabling us to deepen our reach with government partners, thanks to Orion Health’s strong, long-standing relationships. With the added synergies from WELL Health, we are poised to transform healthcare through AI and data-driven innovation.” Brad Porter, CEO of Orion Health, commented, “We are delighted to be joining forces with HEALWELL and delivering on our combined mission of revolutionizing healthcare through AI and data driven innovation. AI-driven insights have the potential to revolutionize how healthcare providers interact with data, leading to improved decision-making, better patient outcomes, and more efficient care delivery. By leveraging HEALWELL’s expertise in AI, and Orion Health’s R&D in New Zealand, we will enhance our Virtuoso and Amadeus platforms, ensuring healthcare organizations worldwide have access to the most advanced tools for care coordination and population health management. We are truly excited with the potential of our combined platforms and capabilities and look forward to the bright future ahead.”
The acquisition of Orion Health provides new opportunities for global health systems to access HEALWELL’s best-in-class AI technology delivering actionable insights and driving better healthcare outcomes. It unlocks substantial revenue synergy potential, as well as improved operational efficiencies and cost savings through shared services with WELL Health Technologies Corp. (“WELL Health”) (TSX: WELL). Collectively, these advantages strengthen HEALWELL’s financial profile, creating a larger, scalable business with substantial growth and value creation potential.
The purchase price for the Transaction was approximately NZD$175 million plus a performance based earn-out of up to a further NZD$25 million. Approximately NZD$105 million was paid in cash and an additional NZD$70 million (converted into Canadian dollars) was paid through the issuance of 35,643,478 Class A Subordinate Voting Shares (each, a “Share”) at an agreed upon price of C$1.61 per Share, of which 78.6% of such Shares are subject to certain voluntary resale and trading restrictions.
The earn-out is a three-year performance-based earn-out of up to NZD$25 million, with up to 50% of the amount payable, at the Vendor’s option, in Shares based on the 10-day VWAP of the Shares prior to the applicable payment date. The earn-out is contingent upon Orion Health’s ability to achieve Normalized EBITDA (as calculated in the Agreement) greater than NZ$20 million for each 12-month period. The purchase price was partially funded via a subscription receipt equity offering of approximately C$25.5 million at a price of C$2.00 per subscription receipt (the “Equity Offering”), and a subscription receipt convertible debt offering of approximately C$27.3 million at a price of C$910 per debt subscription receipt (the “Debt Offering”), both of which were co-led by Eight Capital and Scotia Capital Inc., as lead underwriters and joint bookrunners, together with a syndicate of underwriters. On closing of the Transaction: (i) the subscription receipts from the Equity Offering converted into 12,737,500 units of the Company (the “Units”), with each Unit entitling the holder thereof to one Share and one-half of one Share purchase warrant, with each whole warrant exercisable at a price of C$2.50 for a period of 36 months following the closing of the Equity Offering, and (ii) the subscription receipts from the Debt Offering converted into 30,000 convertible debentures in the principal amount of $1,000, each bearing interest at a rate of 10% per year, payable semi-annually in arears and maturing on December 31, 2029, all without any further action required on the part of the subscription receipt holders. The principal amount under the convertible debentures is convertible into Shares at a conversion price of C$2.40 per Share.
In addition, the purchase price was financed in part by a senior credit facility for an amount of up to C$50,000,000. The facility was provided by a syndicate of banks led by the Bank of Nova Scotia and inclusive of Royal Bank of Canada (collectively, the “Lenders”) and documented by way of a credit agreement dated March 4, 2025 (the “Credit Agreement”). The Credit Agreement matures on March 4, 2028. Security for the credit facility is comprised of security over all present and after-acquired property of each obligor under the Credit Agreement. The terms of the Credit Agreement are customary for a transaction of this nature.
Following the closing of the Transaction (the “Closing”) and Equity Offering, there were 261,547,371 Shares issued and outstanding on a non-diluted basis (339,778,565 Shares issued and outstanding on a fully-diluted basis). In connection with the Transaction, the Company granted the Vendor a right to nominate a single member of the board of directors of the Company for so long as the Vendor (including any affiliates) holds over 66.7% of the Shares issued to the Vendor on closing of the Agreement (the “Threshold Share Percentage”). WELL Health has also entered into a Voting Support Agreement to vote its shares in favor of the appointment of the Vendor’s nominee so long as the Vendor holds the Threshold Share Percentage.
The Company is excited to announce that it has expanded its board of directors through the appointment of Ian Richard McCrae, and has appointed Tina Raja and Sam Englebardt as directors of the Company following the resignations of Bashar Al-Rehany and Kingsley Ward. The Company thanks Mr. Al-Rehany and Mr. Ward for their services and wishes them success in their future endeavours. Following these changes, the Company’s board is now comprised of six directors.
Ian Richard McCrae Mr. McCrae is the founder of Orion Health and sole Vendor in the Transaction. He previously worked as a Scientist for the NZ Department of Scientific and Industrial Resource before later completing a Masters in Engineering Sciences. Ian went on to work for Imagineering and Ernst & Young before founding Orion Health in 1993. In 2010, Ian received a World Class New Zealander award and in 2014 Orion Health became the first company to win the NZ Supreme Hi-Tech Company of the Year for the second time. In 2023, Ian was inducted as a Flying Kiwi into the New Zealand Hi-Tech Hall of Fame.
Tina Raja Tina Raja most recently served as a Partner, and the Head of Business Development and Capital Formation at 26North Partners – a next generation multi-asset class investment platform. Prior to this, she served as a Managing Director at Blackstone in the Tactical Opportunities group, where she led European Business Development & Investor Relations across – Tactical Opportunities, Growth Equity and Insurance Solutions. Previously, she also served as Head of Co-Investments and Investor Relations at Gemcorp Capital LLP starting in 2015. Ms. Raja began her career in 2008 as an analyst at Goldman Sachs. Raised in London, Ms. Raja earned a BA(Hons) degree in Economics from the University of Nottingham. In 2017, Ms. Raja was recognized in the inaugural Europe Forbes 30 under 30 list for her contributions to the Finance Industry. She also serves as a Young Advisory Director on the board for The Metropolitan Opera and the Global Council of The American Ballet Theatre.
Sam Englebardt Mr. Englebardt is a media and technology investor and content producer who is a Co-Founder and Partner at Galaxy Digital Holdings Ltd. (TSX: GLXY), a publicly traded merchant bank focused on the institutionalization of digital assets. Mr. Englebardt is also the founding General Partner of Galaxy’s Interactive division; now investing from its third venture fund, with over $800mm of AUM, Galaxy Interactive invests in opportunities resulting from the convergence of our digital and physical lives, including healthcare. Prior to Galaxy Digital, Mr. Englebardt was a Partner and Managing Director at Lambert Media Group (LMG) from 2007 – 2016, where he sourced and managed a portfolio of media-sector private equity investments including Rave Cinemas (sold to Cinemark in 2013). In addition to several private Boards, Mr. Englebardt is on the Board of Directors of iHeart Media (NASDAQ: IHRT). Mr. Englebardt earned his J.D. from Harvard Law School and studied philosophy, political science and economics at Oxford University and the University of Colorado at Boulder, from which he graduated summa cum laude and Phi Beta Kappa.
This press release is also being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”) in connection with the issuance of the Shares to the Vendor and McCrae International. In connection with the issuance, McCrae International will file, together with the Vendor and Ian McCrae (the sole shareholder of the Vendor and McCrae International (collectively, the “Vendor Parties”), as joint actors, an early warning report pursuant to NI 62-103 with the securities regulators in each of the provinces of Canada with respect to the foregoing matters, a copy of which will be available under the Company’s profile at www.sedarplus.com. A copy of early warning report may also be obtained by contacting Luke Hills at luke.hills@gowlingwlg.com
Immediately prior to the Closing, the Vendor Parties did not beneficially own, directly or indirectly, or exercise control or direction over, any Shares or any securities convertible into or exercisable for Shares. Immediately following the Closing, the Vendor Parties acquired beneficial ownership, directly or indirectly, or exercised control or direction, over an aggregate of 35,643,478 Shares (representing approximately 13.6% of the issued and outstanding Shares on a non-diluted basis, and 6.6% of the voting rights attached to the Shares and HEALWELL’s Class B Multiple Voting Shares (the “MVS”), based on 261,547,371 Shares and 30,800,000 MVSs outstanding immediately following the Closing), such aggregate shareholdings being comprised of:
Read the Full Article Here
HEALWELL is a healthcare artificial intelligence company focused preventative care. Its mission is to improve healthcare and save lives through early identification and detection of disease. Using its own proprietary technology, the Company is developing and commercializing advanced clinical decision support systems that can help healthcare providers detect rare and chronic diseases, improve efficiency of their practice and ultimately help improve patient health outcomes. HEALWELL is executing a strategy centered around developing and acquiring technology and clinical sciences capabilities that complement the Company’s road map. HEALWELL is publicly traded on the TSX under the symbol “AIDX” and on the OTC Exchange under the symbol “HWAIF”. To learn more about HEALWELL, please visit https://healwell.ai/.
Orion Health is a global healthcare technology company focused on reimagining healthcare for all. Orion Health is leading the change in digital health with health and care organizations to improve the wellbeing of every individual with our world leading Unified Healthcare Platform. Made up of a Virtuoso digital front door, Amadeus digital care record, and Orchestral health intelligence platform – each underpinned by extensive health and social data sets, machine learning, and 30 years of innovation focused purely on improving global well-being. www.orionhealth.com.
Pardeep S. Sangha Investor Relations, HEALWELL AI Inc. Phone: 604-572-6392 ir@healwell.ai
“Today the U.S. has announced a 10 per cent tariff on all imports of good, with many countries facing much higher tariffs on a reciprocal basis. New Zealand exporters will face a 10 per cent tariff rate from this weekend. While this is a significant development, New Zealand remains competitive against other exporters in the U.S. market.
New Zealand’s interests are best served in a world where trade flows freely. Tariffs have consequences for the global economy – impacting inflation, demand, currency stability, and economic growth.
While these tariffs create additional costs that will largely be passed on to consumers, New Zealand is in a stronger position than many other countries, some who are facing higher tariff barriers. This reinforces the importance of our work to create new trade opportunities and reduce barriers for our exporters in the EU, UK, UAE, GCC and most recently India.
New Zealand’s bilateral relationship with the U.S. remains strong. We will be talking with the Administration to get more information, and our exporters to better understand the impact this announcement will have.
We will continue to advocate for a rules-based trading system.”
The acquisition will further the company’s momentum in delivering the industry’s most AI-forward and innovative solution, leveraging ListAssist’s natural language search functionality to improve experiences for both the agent and consumer.
MURRAY, Utah, March 13, 2025 --- Inside Real Estate, one of the fastest-growing independent real estate software companies and trusted technology partner to more than 400,000 agents, teams, brokerages and top franchise brands, announced the acquisition of ListAssist, an innovative AI-powered technology that elevates the real estate experience with intelligent tools for both property searches and marketing efforts.
“We are thrilled to welcome ListAssist to the Inside Real Estate family, and begin delivering this first-of-its-kind capabilities to our clients. This tech leads the way on AI-Search, and this next chapter will revolutionize the entire search experience,” says Joe Skousen, Chief Executive Officer at Inside Real Estate. “Leveraging natural language search, image recognition, and other AI technology, in combination with the extensive experience we have in search across hundreds of thousands of websites, hundreds of millions of consumer experiences and trillions of data points, unlocks a new world of data and insights. The solutions will empower our customers to unlock the most powerful and engaging search experiences for their clients, with unparalleled speed, accuracy and engagement. It’s a huge win for us all.”
ListAssist allows homebuyers to use natural, everyday language to find properties that match their specific needs, providing a tailored search experience without having to input any of the traditional search information, check boxes, or adhere to search parameters, and delivering accurate, hyper-customized results. Search information will be automatically processed in the back end of the system, directly in the BoldTrail CRM, so agents can generate smarter search alerts to boost engagement, foster trust, and deliver a better overall experience. Additionally, the technology automates the creation of property listing descriptions, analyzing property images and MLS details to generate polished, SEO-friendly content that enhances online visibility and draws in potential buyers.
“We are incredibly excited to be joining Inside Real Estate, and we’re proud to have delivered AI solutions to tens of thousands of agents and some of the biggest, most trusted brands in the industry,” said Chris McGoldrick, Founder of ListAssist. “Our New Zealand team is inspired by the big things to come, and we can’t wait to continue providing a market-leading experience for both consumers and agents alike.”
Inside Real Estate will host an Innovation Webinar on March 19th, where clients and prospects can learn more about this and other exciting innovations. Register here.
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About Inside Real Estate:
Inside Real Estate is a fast-growing, independently-owned real estate software firm that serves as a trusted technology partner to nearly 500,000 top brokerages, agents, and teams. Their branded portfolio, BoldTrail, includes BoldTrail front office, BoldTrail BackOffice and BoldTrail Recruit, solutions that create a complete tech ecosystem for clients, and deliver seamless end-to-end operations, to scale success at any level. BoldTrail delivers a unique technology ecosystem through custom branding, robust integrations, and high-quality add-on solutions, and delivers the next generation of the company’s legacy brands, including kvCORE, BoomTown, btPRO, Brokermint, and AmpStats solutions. With an accomplished leadership team and its talented staff, Inside Real Estate brings the resources, scale, and vision to deliver ongoing innovation and success to their growing customer base. To learn more visit insiderealestate.com.
About ListAssist:
ListAssist is an innovative AI-powered technology that elevates the real estate experience by offering smart tools for both property searches and marketing. Instead of the traditional, often tedious search methods, ListAssist allows homebuyers to use natural, everyday language to find properties that match their specific needs. Founded in 2022 by Chris McGoldrick in Auckland, New Zealand, the company has rapidly expanded its influence, particularly in the North American market. ListAssist's innovative approach has garnered significant recognition within the real estate technology sector. In August 2023, the company won the "Crowd Favourite" award at the National Association of Realtors' Innovation, Opportunity & Investment. Summit in Miami. Subsequently, in October 2024, Inman named ListAssist the "Top Real Estate AI Startup" in its inaugural AI Awards.
Source: https://resources.insiderealestate.com/
The Government is proposing changes to tax rules which will contribute to encouraging investment in New Zealand, Revenue Minister Simon Watts says.
“We want New Zealand to be a country that attracts and welcomes the sort of talented people who will help grow our economy.
“When we attract Kiwis home or bring in new, smart talent we grow the economy and that means jobs, more opportunities and higher wages for everyone,” Mr Watts says.
“The current foreign investment fund (FIF) rules are a key deterrent for migrants and returning Kiwis, especially in the tech or start-up sector from coming to and staying in New Zealand.”
Proposed changes to the FIF rules involve the addition of a new method to calculate a person’s taxable FIF income, the ‘revenue account method’.
“This will allow new migrants to be taxed on a realisation basis for their FIF interests that are not easily disposable and acquired before they came to New Zealand. For migrants who risk being double taxed due to their continuing citizenship tax obligations, this method can apply to all their FIF interests.
Mr Watts says the change has been positively received by people in the tech and start up sector.
“I have heard from Graeme Muller, the Chief Executive of industry peak body, NZTech that the fast-growing tech sector continues to cry out for experienced high-skilled talent to support global expansion. He says these improvements in tax rules are exactly what we need to make New Zealand more attractive for both investors and global talents.
“I have also heard from Robbie Paul, the CEO of Icehouse Ventures, that this is a stand-up example of Government engaging on a genuine issue so we can all create a brighter future for New Zealand. He suggests foreign investment fund rules have been a deterrent for many of the world’s leading entrepreneurs and investors, including offshore Kiwis. These individuals play an important role in maximising the technology sector’s creation of export revenue and high paying jobs,” Mr Watts says.
The changes would apply to migrants who became New Zealand tax residents on or after 1 April 2024.
“We want to act swiftly to remove barriers for highly-skilled migrants to stay in New Zealand and invest in the growth of our economy, so the proposals will be included in the next taxation Bill, likely to be introduced around August.
“This is an important step and one which the private sector has been calling for, but we need to consider whether more can be done. We are looking more closely at the FIF rules and related international tax settings not only to encourage migration to New Zealand, but also to encourage our own residents to stay and invest in New Zealand.
“The Government will also be looking at how the rules impact New Zealand residents and will have more to say later in 2025,” Mr Watts says.
Rocket Lab recently executed a non-binding term sheet to acquire a controlling ownership stake in Mynaric subject to completing a previously announced restructuring plan and regulatory review process
LONG BEACH, Calif.--(BUSINESS WIRE)-- Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or the “Company”), a global leader in launch services and space systems, today announced it has entered into a non-binding term sheet with certain lenders (together, the “Lenders”) to acquire, subject to receipt of certain governmental approvals including those described herein, a controlling equity position in Mynaric AG (“Mynaric”). Mynaric is a leading provider of laser optical communications terminals for air, space, and mobile applications. The transaction is expected to close following the completion of Mynaric’s previously announced and pending StaRUG restructuring proceedings under German law, the completion of which would result in certain outstanding debt held by the Lenders converting into 100% of the equity of Mynaric (the “StaRUG Restructuring”) – subject to receipt of applicable regulatory approvals.
The acquisition, if accomplished, is expected to further strengthen Rocket Lab’s proven capabilities as a leading launch provider, spacecraft manufacturer, and supplier of satellite components at scale. Rocket Lab may fund this and other future acquisition opportunities with proceeds from equity offerings.
Strategic Importance of the Deal:
A key driver for this proposed acquisition is that Mynaric is already a subcontractor to Rocket Lab, providing CONDOR Mk3 optical communication terminals for the Company’s $515 million prime contract with the Space Development Agency (SDA) to produce 18 satellites for the Tranche 2 Transport Layer-Beta. Mynaric is also a supplier into other SDA contracts, and Mynaric and Rocket Lab share many customers spanning commercial constellation operators, prime contractors, and defense and civil government agencies. Rocket Lab intends to scale production and introduce efficiencies to Mynaric’s existing manufacturing capability to further support SDA and other opportunities, providing these customers with improved confidence and assurance their terminals will be delivered on schedule and on budget.
Rocket Lab founder and CEO Sir Peter Beck said: “We have been very clear about this strategic direction for several years now – Rocket Lab is pursuing every part of the space value chain. We launch our own rockets, we build satellites in constellation volumes, and now we’re closing in on the final step and most valuable part of the space economy – operating our own constellations to provide data and services from space using our newly announced Flatellite spacecraft. Mynaric has paved the way in developing laser technology. Their team and technologies will make a compelling addition to our satellite component portfolio and we look forward to making the technology available at scale for our own constellations and those of our customers.”
The non-binding term sheet entered into with the Lenders provides for a proposed acquisition of Mynaric by Rocket Lab following the completion of the StaRUG Restructuring on terms acceptable to Rocket Lab. After the completion of the StaRUG Restructuring and subject to execution of a definitive agreement, Rocket Lab would acquire 100% of the outstanding equity interests of Mynaric. The initial purchase price is expected to be $75 million payable in either cash or shares of common stock of Rocket Lab, at Rocket Lab’s option, with the potential for additional earn-out consideration based on future revenue targets of the Mynaric business of up to an additional $75 million in shares of Rocket Lab common stock or cash, at Rocket Lab’s option. The initial closing purchase price will also be increased (and the potential earnout consideration correspondingly decreased) to the extent of any additional cash investment by the Lenders or their affiliates in Mynaric after completion of the StaRUG Restructuring and before the closing of the potential acquisition.
The non-binding term sheet provides for an exclusive negotiating period between Rocket Lab and the Lenders and is subject to completion of customary due diligence by Rocket Lab and the negotiation and entry into a definitive purchase agreement between the parties. The definitive agreement will also include customary covenants and closing conditions, including required regulatory approvals and termination rights. There can be no assurances that Rocket Lab will enter into a definitive agreement or complete the acquisition. Mynaric is not a party to the non-binding term sheet and Rocket Lab is not offering to acquire and will not acquire any of the currently outstanding equity interests of Mynaric AG. Among other conditions, the proposed acquisition will be conditioned on the completion of the StaRUG Restructuring and prior elimination of all such outstanding equity interests without any consideration, as contemplated by Mynaric’s previously announced StaRUG Restructuring plan.
About Rocket Lab
Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions that make it faster, easier, and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle, the HASTE suborbital launch vehicle for hypersonic tests, a family of flight proven spacecraft, and the larger Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually. Rocket Lab has deployed 200+ payloads from its launch sites in the United States and New Zealand for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s family of spacecraft have been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third launch pad in Virginia. To learn more, visit www.rocketlabusa.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the potential acquisition of Mynaric AG from its existing lenders, the terms and conditions of any such potential acquisition, whether such acquisition will occur on the terms set forth in the non-binding term sheet, if at all, and the impact of the acquisition on Rocket Lab’s current and future product offerings and business are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the risks that Rocket Lab and the Lenders will not be able to negotiate and enter into a definitive purchase agreement for the Mynaric business on terms set forth in the non-binding term sheet or at all, the risk that Mynaric’s StaRUG Restructuring is not approved by the German courts or material modified from current expectations, regulatory and other risks associated with Rocket Lab’s ability to complete such an acquisition even if a definitive purchase agreement is executed, litigation and other risks associated with Mynaric’s StaRUG Restructuring, and other factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.rocketlabusa.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates and expectations as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
www.rocketlabusa.com
Teradyne to acquire Quantifi Photonics to deliver photonic IC testing to the high-performance Compute market.
NORTH READING, Mass., March 10, 2025 – Teradyne, Inc. (Nasdaq: TER) today announced it has entered into a definitive agreement to acquire privately held Quantifi Photonics, a leader in photonic IC testing. The acquisition is expected to close in the second quarter of 2025, subject to customary closing conditions and regulatory approval.
This acquisition will enable Teradyne to deliver scalable photonic integrated circuit (PIC) test solutions. PIC technology is leveraging wafer-based manufacturing, multi-die integration, and advanced packaging with high-speed I/O interfaces to enable the rapidly evolving high-performance Compute market to support AI workloads.
“The extraordinary growth and complexity driven by Cloud AI will require optical interconnect solutions to support the bandwidth and reduce the power required for next-generation networks,” said Teradyne CEO, Greg Smith. “We are thrilled to welcome the Quantifi Photonics team to Teradyne to accelerate the development of cost-effective, high-throughput test solutions for wafer-level, die/multi-die and co-packaged optical module testing.”
“By combining Quantifi Photonics’ deep expertise in photonic testing and Teradyne’s leadership in semiconductor ATE, we are uniquely positioned to revolutionize photonics high-volume manufacturing,” said Quantifi Photonics co-founder and CEO Iannick Monfils. “The silicon photonics market is at an inflection point that requires innovative, state-of-the-art solutions to unlock its full potential. By combining our strengths, Teradyne and Quantifi Photonics will provide customers with complete turn-key photonic test solutions that allow them to scale. Quantifi Photonics is excited to join the Teradyne family.”
About Quantifi Photonics
Quantifi Photonics provides test solutions to help customers unlock scalable and cost-effective high-volume manufacturing of photonic integrated circuits (PICs), co-packaged optics and pluggable optics. The company’s portfolio includes a wide range of photonic test instruments, and digital sampling oscilloscopes, available as benchtop or the industry-standard PXI format to support cost-effective, high-throughput design verification testing and high-volume manufacturing.
About Teradyne
Teradyne (NASDAQ:TER) designs, develops, and manufactures automated test equipment and advanced robotics systems. Its test solutions for semiconductors and electronics products enable Teradyne’s customers to consistently deliver on their quality standards. Its advanced robotics business includes collaborative robots and mobile robots that support manufacturing and warehouse operations for companies of all sizes. For more information, visit teradyne.com. Teradyne® is a registered trademark of Teradyne, Inc., in the U.S. and other countries. Source: https://www.quantifiphotonics.com/
Deputy Prime Minister and Foreign Minister Winston Peters will travel to New York and Washington DC later this week for discussions on world affairs and to continue to build New Zealand's ties with the United States.
Mr Peters will hold meetings with members of the Trump Administration including Secretary of State Marco Rubio, other US political contacts, and senior representatives of the United Nations.
"The United States is one of New Zealand's closest and most important partners," Mr Peters says.
"This visit provides a chance for the New Zealand Government to engage directly with the Trump Administration in Washington on our mutually beneficial bilateral relationship.
"New Zealand and the United States have a long history of close and broad cooperation in pursuit of shared interests, and we look forward to discussing in Washington how to continue building on that in the months and years ahead."
A wide range of international issues will also be discussed during Mr Peters’ visit.
"Whether Ukraine, Gaza, the Indo-Pacific or security cooperation, there's a lot to discuss - and we look forward to doing so both in New York and in Washington DC."
Mr Peters departs New Zealand on Thursday 13 March and arrives back on Friday 21 March.
Marcel Portmann – Global Development Duck Donuts, Martin van der Velden, Melissa Sweeney – U.S. Consul General, Jonathan Watt – Commercial Specialist, Nathan Bonney – Iridium Partners
Duck Donuts, the beloved U.S.-based donut franchise, is making its way to New Zealand, thanks to the leadership of Martin van der Velden. A successful franchisee himself, Martin has taken the next step in his franchising journey by becoming the Master Franchisee for Duck Donuts in New Zealand. Along with his wife Anita, Martin is set to introduce Kiwi communities to the brand’s famous warm, made-to-order donuts.
With an extensive background in food and beverage franchising, Martin is no stranger to running a successful business. Having previously owned and operated two Bakers Delight stores in the Bay of Plenty, he understands what it takes to build a thriving franchise. Now, he’s channelling that expertise into launching and growing Duck Donuts across New Zealand.
“We’re delighted to welcome Martin and Anita to the Duck Donuts family,” said Devon Mailey, Chief Executive Officer at Duck Donuts. “We look forward to seeing them bring our brand to life across New Zealand and deliver the unique Duck Donuts experience to local customers.”
Martin’s journey exemplifies what comes after franchisee success—a path outlined in the article What Comes After Franchisee Success? by Iridium Partners. Taking on the role of Master Franchisee represents a significant step forward, allowing him not only to operate his own locations but also to support and grow a network of franchisees across the country.
The search for a Master Franchisee was led by Nathan Bonney of Iridium Partners, with support from the U.S. Commercial Service, spearheaded by Jonathan Watt, Commercial Specialist. The recent signing was celebrated under the watchful eye of Melissa Sweeney, U.S. Consul General, marking an exciting milestone in Duck Donuts’ international expansion.
Founded in 2006, Duck Donuts has earned a reputation for its customizable donut experience, where customers can create their perfect donut with a variety of flavours and toppings. With Martin and Anita at the helm, New Zealanders will soon have the opportunity to indulge in this delicious, made-to-order treat.
Stay tuned for updates as Duck Donuts begins its journey in New Zealand—bringing warmth, sweetness, and a taste of something special to our local communities!
Source: https://www.iridium.net.nz/
