Author: Brenda Marie Rivers|| Date Published: October 19, 2020
Sweden-based nanosatellite manufacturing company AAC Clyde Space has agreed to acquire Fairfax, Virginia-based satellite and ground equipment supplier SpaceQuest to grow presence in the U.S. space market.
ACC will pay for the acquisition deal with 24M new shares, SpaceQuest said Friday.
SpaceQuest helps government customers build spacecraft and components for low-Earth orbit satellites and ground infrastructure such as antenna systems, radios, modems, payloads, processors and altitude determination systems.
The company’s clientele includes NASA, the U.S. Air Force, the U.S. Navy and the Department of Energy’s Sandia National Laboratories.
Rolf Hallencreutz, chairman of AAC, said the company gains access to a Space as a Service portfolio through the purchase of SpaceQuest along with the recent Hyperion deal.
"By bringing these two companies into the group we become a truly global supplier of space systems and a very attractive partner for companies who are looking to exploit opportunities based on data from space.”
Near Earth served as SpaceQuest’s financial adviser for the recent transaction.
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