Allied Minds will collect $65.6m for its 58% stake in data analytics satellite operator HawkEye 360, which it founded on the back of Virginia Tech research.
Commercialisation firm Allied Minds is poised to rake in $65.6m for its majority stake in HawkEye 360, a US-based data gathering satellite operator exploiting Virginia Tech research.
The cash consideration is a 5.6x return on Allied Minds’ 58% stake and represents an internal rate of return of 96% for the firm over four years. About half of the sum will be paid to Allied Minds’ shareholders.
The buyer was not named in Allied Minds’ statement, but was identified as media firm Advance by a variety of news sites.
Established by Allied Minds in 2015, HawkEye 360 is in the process of launching a satellite constellation that will pick up radio frequencies from Earth for analysis on behalf of its clients.
The company’s first three satellites entered orbit in 2018 to process a range of RF signals as the basis for new analytics products, targeting use-cases including…
