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Space Adventures, Ltd. announced that as of January 1, 2008, the company completed an acquisition of the Florida and Las Vegas based Zero Gravity Corporation (ZERO-G) by increasing its equity stake to 100% ownership.
"Space Adventures has been one of the largest investors in ZERO-G for years. Our decision to acquire the remaining equity in ZERO-G is a strategic fit within Space Adventures’ overall business plan, strengthening our position as the only operational commercial spaceflight services company," said Eric Anderson, President and CEO of Space Adventures. "Because the ZERO-G experience is available to the public at such a reasonable price point, we’ll enable tens of thousands of people to take part in one the most exhilarating aspects of spaceflight, weightlessness."
"Bringing the companies together allows us to provide a range of exclusive commercial spaceflight services from parabolic flights to orbital missions," said Peter H. Diamandis, CEO of ZERO-G. "ZERO-G will continue as its own brand, but now has the opportunity to be the entry point for a series of vertically integrated space experiences worldwide."
Diamandis, also a co-Founder of Space Adventures, will continue as the CEO of the ZERO-G operating unit, but also joins as Managing Director of the parent company Space Adventures, Ltd. Byron Lichtenberg, co-Founder of ZERO-G and former NASA astronaut, will continue as CTO of ZERO-G. “I’m very excited that Peter Diamandis, who has been a leading visionary in the space industry since co-founding Space Adventures with me in 1998, and Byron Lichtenberg, an astronaut and true American hero, will be working with us to continue growing the company and building this new industry,” said Anderson.
Since 2004, ZERO-G has flown over 175 missions, providing the weightless experience to more than 5,000 customers, including Stephen Hawking. In January 2008, the company won a research and training contract from NASA worth up to $25 million (USD).
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
