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SpaceX to Purchase Small-Satellite Operator Swarm

Swarm Technologies operates a constellation of small satellites that provide internet-of-things services. It's agreed to become a unit of SpaceX.
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SpaceX, the space-travel company owned by Tesla  (TSLA) - Get Tesla Inc Report Chief Executive Elon Musk, agreed to acquire Swarm Technologies, a satellite data company that provides internet-of-things services. 

Swarm disclosed the acquisition plan in a series of filings with the Federal Communications Commission on August 6. The company signed the merger deal on July 16. 

Terms weren't disclosed. Swarm reportedly completed a funding round in January at a valuation of $85 million. 

Swarm operates a group of 120 small satellites to provide two-way communications at low data rates for the agriculture, energy and transportation markets. The company says it can provide services at a fraction of the cost of legacy satellite services. 

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"Swarm’s services will benefit from the better capitalization and access to resources available to SpaceX, as well as the synergies associated with acquisition by a provider of satellite design, manufacture, and launch services,” the company said in the filing. 

Last week, SpaceX won a round in a legal dispute over a Texas property.

Oil regulators voted unanimously in Musk's favor in a dispute over land being used to build the Starbase complex near the border with Mexico.

The Railroad Commission of Texas voted 3-0 to designate SpaceX's Lone Star Mineral Development unit as the operator of inactive oil and natural gas wells on 24 acres. That land is being developed to support the entrepreneur's rocket-launch facility near the mouth of the Rio Grande, Bloomberg reported.

The commission is the state's top oil and natural gas industry regulator.