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HOME arrow Aerospace arrow EADS pounces to pay £50m for university micro satellite spin-out arrow Registration
EADS pounces to pay £50m for university micro satellite spin-out
Written by Lautaro Vargas   
Wednesday, 16 April 2008
eads-astrium-skynet5.jpgThe UK’s biggest manufacturer of satellites, Stevenage-based EADS Astrium, has swooped for Surrey Satellite Technology Ltd (SSTL) in a deal believed to be worth up to £50 million.

Final negotiations for the deal which will bring the rapidly growing University of Surrey spin-out under the control of the multi-billion pound global space company are ongoing.

SSTL, which specialises in the design and manufacture of small and micro satellites, says the acquisition will provide it with access to the kind of financial and industrial resources that will allow it to fulfil a somewhat untapped full potential.

While the company has experienced major growth over the last three years, an 20 per cent increase in staff last year to 270 was principally attributed to a single lucrative contract with Nigeria for a satellite and associated training and set up services.

“The promise of investment and independence sealed the deal for Astrium,” said an SSTL spokesperson. “Chairman Sir Martin Sweeting was very happy with the arrangement which also involves the University.”

The University of Surrey owns a majority stake in Guilford-based SSTL of around 80 per cent and as well as a new strategic academic alliance with Astrium that keeps it tied to SSTL it will maintain a “token” stake.

“SSTL operates in a highly competitive global market,” said Sir Martin. “If we are to continue changing the economics of space and provide the innovative solutions our customers demand we must expand and maintain our R & D investment. This acquisition strengthens SSTL enormously whilst preserving our unique approach to space.”

Astrium is one of the world’s leaders for its expertise in space transportation, spacecraft and satellite services. It had a turnover of €3.55 billion and 12,000 employees in France, Germany, the UK, Spain and the Netherlands.
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