Rakon has won a contract to supply space subsystems for a new Low Earth Orbit (LEO) satellite constellation which it estimates to be worth up to $17 million over 3 years.
The NZX-listed company will supply Master Reference Oscillator (MRO) subsystems to the “global leader in communications satellites”, starting in FY26 with the potential for a “substantial” extension.
The MROs provide "highly accurate and stable frequency references, and precision timing that enable satellite communications and synchronisation", it said.
The contract will provide more than $3m revenue in FY25, the company said.
Rakon said the contract win puts it ahead of schedule in achieving its three-year growth strategy milestone of becoming a top-three supplier for its NewSpace subsystem products.
It said it is also on track to double its serviceable addressable market for NewSpace, in the next five years, largely driven by demand for its subsystem products.
The company will announce full-year results on May 29.
Stuff Group has purchased the daily news site and associated titles under the Wairarapa Times-Age masthead. The publication will become part of Stuff's regional business, the country's largest.
Stuff Group chief executive Laura Maxwell said the purchase brings Stuff’s scale, support systems and broad commercial opportunities to the business, while retaining community journalists and supporting local concerns.
“We are particularly pleased that owner Andrew Denholm will join Stuff in a new role, continuing to drive the success of the WTA locally,” she said.
Created in 1938 by the merger of two local titles, the WTA was owned by NZME (then APN News & Media) before being bought into local ownership in 2016.
NZME has also recently been on a regional media buying spree, snapping up publications and local media concerns such as Tauranga-based SunMedia.