Ad
Ad
Ad
© cookelma dreamstime.com Electronics Production | December 17, 2014

RUAG acquires Patria’s Space Business

Patria and RUAG has reached agreement for the sale of Patria’s Space unit to become part of RUAG’s Space division.

The transaction includes the business operations and assets. The 32 employees currently working in Patria’s Space unit in Tampere will be employed in the newly founded company RUAG Space Finland. Patria’s Space activities are currently part of the Finnish company’s Systems Business Unit. The key product areas are spacecraft control electronics, electrical power subsystems, electronic units and related test equipment. “The acquisition of Patria’s Space unit gives us the opportunity to broaden our technology base and to enhance our product portfolio in the area of Space Electronics. This will help us further improve our position particularly in the commercial satellite market”, explains Urs Breitmeier, CEO of RUAG.” “Both Patria Space and RUAG Space are world class suppliers of high quality and advanced space equipment and have a good strategic fit. And to offer a better growth basis for space business we see our Space unit has more possibilities to develop further as a part of RUAG Group, where space is defined as a strategic priority”, says Jukka Holkeri, Chief Strategy Officer at Patria.
Load more news
June 25 2019 8:13 pm V13.3.22-2