Policy and Legislation News
Swedish company to acquire cubesat manufacturer Clyde Space
23 December 2017
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.
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.