Orrick has advised a private equity fund in the sale by Russian private commercial satellite group Dauria Aerospace of two Perseus-brand micro satellites to California-based earth imaging firm Aquila Space. This deal is reported as the first Russia-US private satellite sale contract.
The satellites comprise receivers of automated identification system signals that are used to prevent the collision of large vessels in river and sea navigation. In addition to the satellites, Aquila Space has purchased licenses for using Dauria Aerospace's technologies. The satellites had already been launched, and were sold to Aquila Space while in orbit.
The Orrick team was led by M&A and private equity partner Olga Sirodoeva and included M&A and private equity attorney Maria Sergeyeva, with additional assistance by partners Bob Sills, Joseph Perkins and Daniel Yost.