EADS Astrium is set to acquire 75.1% of SES Astra’s German equipment provider and ground system integrator ND SatCom for an undisclosed sum.
The transaction is subject to regulatory approvals, but is expected to be completed by early 2011.
According to…
EADS Astrium is set to acquire 75.1% of SES Astra’s German equipment provider and ground system integrator ND SatCom for an undisclosed sum.
The transaction is subject to regulatory approvals, but is expected to be completed by early 2011.
According to SES Astra, the deal will open up the potential for new business opportunities for the two companies in the government and institutions sectors.
“This move underlines our strong commitment to growing our business across Germany – one of our key home markets,” said Eric Béranger, CEO of Astrium Services.
“With the deal due to conclude early next year, we will then have an opportunity to deploy significantly wider product range by combining Astrium’s secure satcoms, networks and terminals expertise with ND SatCom’s for a stronger offering to the civil, governmental and military markets.”
SES has been looking to sell the underperforming ND SatCom for some time, with murmurings in the market suggesting that the satellite operator had been considering breaking the subsidiary up and selling it in parts. However, a source close to SES confirmed to SatelliteFinance in September that it was speaking to a number of different parties, but that it intended to sell ND SatCom as a single entity.
An Astrium spokesman did not rule out whether the group would buy the rest of ND SatCom in the future.
