Swedish space company ÅAC Microtec announced on 22 Dec. it plans to acquire Scottish cubesat manufacturer Clyde Space, creating what the companies believe will be a dominant force in a growing sector of the industry.

Under the deal, ÅAC Microtec will purchase Clyde Space for nearly 30.5 million shares and £2 million ($2.7 million) in cash, for a total value of $35.3 million. The purchase is scheduled to close in late January, after a vote by ÅAC Microtec's shareholders.

Source: SPACENEWS

Image credit: Clyde Space - Craig Clark, Clyde Space founder and chief executive, said the sale of his company to ÅAC Microtec will help the company take a larger share of the growing smallsat industry.