OSLO, NORWAY: Kongsberg Defence & Aerospace has entered into an agreement to acquire Lithuanian smallsat mission integrator and bus manufacturer NanoAvionics.
The planned acquisition expands KONGSBERG’s space offering to also have products and technology for manufacturing small satellites, a bourse filing noted.
NanoAvionics is a leading smallsat mission integrator and bus manufacturer with significant global growth in recent years, including expansions into the United Kingdom and the United States.
With more than 150 employees the company has contributed to 120 missions and commercial satellite projects, with customers ranging from national space agencies to universities such as UNSW Sydney and companies such as Thales Alenia Space, Aurora Insight, the Dubai Electricity & Water Authority, SEN and others.
“The agreement to acquire NanoAvionics represents a game changer for KONGSBERG’s space ambitions. By acquiring NanoAvionics KONGSBERG expands its portfolio to also have products and technology for designing and manufacturing small satellites. KONGSBERG is the Nordic region’s largest industrial space company and a global leader in maritime surveillance. We have clear ambitions to grow further and with this acquisition we are taking the next step both for us and for Norwegian space industry”, says Geir Håøy, CEO of KONGSBERG.
KONGSBERG will acquire in total 77 per cent of the company. Current majority owner AST & Science will divest all its shares, while the management of NanoAvionics will retain 23 per cent of the company. The parties have agreed upon an enterprise value of EUR 65 million (100 per cent basis). KONGSBERG and NanoAvionics plan to close the transaction following the conclusion of customary closing conditions including any required regulatory reviews.
The two companies have complementary technology and positions in the space value chain. NanoAvionics is a leader in the Smallsat segment, whilst KONGSBERG is an established provider of spacecraft subsystems, and through Kongsberg Satellite Services the world-leading supplier of satellite ground stations for downloading and processing satellite data.
NanoAvionics has customers in more than 40 countries across Asia, Europe and the Americas, complementing KONGSBERG’s global positions in both the traditional space segment and new space.