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Mynaric AG / Key word(s): Alliance
Los Angeles, California, 1 November 2021 - Mynaric has signed a strategic supplier agreement with Northrop Grumman.
The agreement defines that Mynaric shall be considered as a strategic supplier of Northrop Grumman who shall use commercially reasonable efforts to include Mynaric in any business opportunities related to laser communication terminals, and the associated components or sub-assemblies thereof, for use in or relating to space where the ultimate customer is a US government customer. Earlier this year Mynaric submitted bids with a combined value in the mid-double digit million USD range to Northrop Grumman in the framework of multiple government space programs that are still pending contract awards by the US government.
The agreement provides Northrop Grumman assured and preferred access to Mynaric products and services. It also foresees that Mynaric and Northrop Grumman will jointly develop and offer laser communication solutions tailored to the unique needs of specific US government space programs. Mynaric will exclusively develop and sell custom products to Northrop Grumman for this specific market segment.
The agreement foresees premature cancellation rights for Mynaric if Northrop Grumman fails to provide Mynaric with awards opportunity to sell and provide a minimum value of Mynaric products and/or related services per year cumulatively reaching at least USD 35 million over the 5-year agreement term.
01-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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