- Astrium to acquire majority stake in Space Engineering, the Italian specialist in telecommunications and radar technology
- This investment demonstrates Astrium’s commitment to the Italian market
- Through Space Engineering, Astrium will enhance its product offering to both the institutional and commercial markets and increase its R&D investment
Astrium, Europe’s leading space company, entered into an agreement pursuant to which it will acquire 66.78% of Space Engineering, a specialist in digital telecommunications, RF and antenna equipment engineering for both space and ground based applications. This acquisition of the Rome headquartered company will enhance Astrium’s capability to develop and manufacture sophisticated telecommunications hardware. The purchase demonstrates the company’s commitment to the Italian space market.
Francois Auque, CEO Astrium, said: “This acquisition reinforces our commitment to Italy, a key player in space, and we will build upon Space Engineering’s established product offering, in developing competitive and innovative technologies. As a trusted partner of both the Italian and European Space Agencies, Space Engineering will further strengthen our portfolio, enabling us to provide cutting-edge digital telecommunications and RF technologies – essential for our institutional and commercial customers.”
With sites in Rome and southern Italy (near Potenza), Space Engineering and its main subsidiary, Teleinformatica e Sistemi, specialise in the development of telecommunications, navigation and remote sensing applications and engineering services for both the civilian and defence sectors. The 150 employee company also has extensive expertise in the modelling, design and development of ground based telecommunication hardware and antennas, along with facilities for the assembly, integration and testing of space equipment.
Becoming part of Astrium will enable Space Engineering to make the next step forward in terms of development by giving it access to new markets.
Completion of the transaction is subject to customary conditions, including regulatory approvals.
Astrium is the number one company in Europe and the third in the world for space technologies. It is a wholly owned subsidiary of EADS, dedicated to providing civil and defence space systems and services.
In 2010, Astrium had a turnover of €5 billion and more than 15,000 employees worldwide, mainly in France, Germany, the United Kingdom, Spain and the Netherlands. Its three main areas of activity are Astrium Space Transportation for launchers and orbital infrastructure, Astrium Satellites for spacecraft and ground segment, and Astrium Services for comprehensive end-to-end solutions covering secure and commercial satcoms and networks, high security satellite communications equipment, bespoke geo-information and navigation services worldwide.
EADS is a global leader in aerospace, defence and related services. In 2010, the Group – comprising Airbus, Astrium, Cassidian and Eurocopter – generated revenues of € 45.8 billion and employed a workforce of nearly 122,000.