Clyde Space acquired by Swedish firm

Posted on 05 Feb 2018 and read 600 times
Clyde Space acquired by Swedish firmGlasgow-based Clyde Space has been bought by Sweden’s AAC Microtec in a £26 million deal that will strengthen the two companies’ position in the market for small and nano satellites. AAC Microtec will own 100% of Clyde Space, with Clyde Space’s owners holding 49% of AAC

Microtec’s equity. Around 80 people are currently employed by Clyde Space, and it is expected that the deal will create new jobs in both Scotland and Sweden, as well as other growth markets.

Since its launch in 2005, Clyde Space has built up a customer base that includes NASA, the US Air Force, the European Space Agency and the UK Space Agency, and it has supplied over 2,000 sub-systems for small spacecraft.

Founder and CEO Craig Clark said: “AAC’s complementing operations, advanced technology know-how, well-developed corporate structure and direct access to capital markets provide a great platform for the further development and growth of Clyde Space.”

AAC Microtec CEO Alfonso Barreiro said: “Our joint R&D capacity will be unique in our segment, enhancing our ability to offer ‘state of the art’ technology and supporting our strategy to develop robust products based on open-architecture platforms to increase flexibility, scalability and efficiency.”

Clyde Space is now a significant ‘player’ in the CubeSat sector, and it led the launch of UKube-1 — Scotland’s first satellite in space.

It will now be able to access more markets with ACC, offering satellites that range from small CubeSats to 500kg units.

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