Astrium to acquire SSTL
Posted: Mon, Apr 7, 2008, 8:46 AM ET (1246 GMT)
Europe's largest satellite manufacturer has announced an agreement to purchase a majority stake in the continent's leading developer of smallsats. EADS Astrium will acquire 80 percent of Surrey Satellite Technology Ltd. (SSTL) for an estimated £40-50 million (US$80-100 million), the companies reported Monday. Astrium is best known as a manufacturer of large government and commercial satellites, including GEO communications satellites. SSTL, by contrast, builds small satellites weighing no more than a few hundred kilograms. SSTL was spun out of the University of Surrey in the UK, and it is university that is cashing out its stake in the company. SSTL will remain a separate operating entity with with access to the greater resources of Astrium. The deal is subject to regulatory approvals.
Europe's largest satellite manufacturer has announced an agreement to purchase a majority stake in the continent's leading developer of smallsats. EADS Astrium will acquire 80 percent of Surrey Satellite Technology Ltd. (SSTL) for an estimated £40-50 million (US$80-100 million), the companies reported Monday. Astrium is best known as a manufacturer of large government and commercial satellites, including GEO communications satellites. SSTL, by contrast, builds small satellites weighing no more than a few hundred kilograms. SSTL was spun out of the University of Surrey in the UK, and it is university that is cashing out its stake in the company. SSTL will remain a separate operating entity with with access to the greater resources of Astrium. The deal is subject to regulatory approvals.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
Space Force picks 14 companies for GEO surveillance program
Posted: Sat, Apr 11 10:34 AM ET (1434 GMT) |
|
news links
|
|
Thursday, April 23
Firefly Aerospace moves into 3 new buildings in Cedar Park
KVUE-TV Austin, TX — 4:24 am ET (0824 GMT) ESA Formalizes European Defense Agency Links
Aviation Week — 4:23 am ET (0823 GMT) Plato aces space-like tests
ESA — 4:23 am ET (0823 GMT) In ‘major win’ for Alabama, $565 million set aside for Space Command design, construction
Huntsville Times — 4:22 am ET (0822 GMT) Trump taps defense firm execs to lead space acquisition, NRO
Breaking Defense — 4:19 am ET (0819 GMT) |
