Howard Tennant, then Dean of the College of Graduate Studies and Research at the University of Saskatchewan, served on the Board of Directors of both companies.

SED Systems grew out of Space Engineering Division of the Department of Physics at the University of Saskatchewan. Formed in 1965, SED initially designed and built rocket instrumentation for upper atmospheric testing, primarily for the National Research Council (NRC). It soon diversified and began designing aerospace and satellite systems technology related to the communications industry. Although SED had become a self-funding unit through contracts it was awarded, industry complaints of unfair competition prompted the establishment of SED as a limited liability company, owned by the University, in 1972. In 1985 SED made its first public share offering. Within a year, Fleet Aerospace Corporation (of Ontario) acquired controlling interest in SED.

Incorporated in February 1983, Biostar Inc. is a research, development, production, and marketing agency for animal and poultry health care products. Additionally, Biostar serves as commercial partner for the Veterinary Infectious Diseases Organization (VIDO).