Astrium to Take Majority Stake in ND Satcom
- Astrium Services and SES ASTRA to strengthen relationship
With this agreement, SES ASTRA and Astrium will further reinforce their long-term relationship, and will also explore the potential for the two companies to work together in the development of new business opportunities in the government and institutions sector, as well as other specific satellite infrastructure projects.
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It is expected that the transaction will close during the first quarter of 2011, subject to the realisation of certain conditions including regulatory approvals.
SES ASTRA has a long-standing business relationship with Astrium and has ordered a total of nine satellites from the satellite manufacturer. Six of these satellites are currently under construction at Astrium's facilities across Europe.
Eric Beranger, CEO of Astrium Services said: "This move underlines our strong commitment to growing our business across Germany - one of our key home markets. 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."
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Source : Astrium