© mikael damkier dreamstime.com Electronics Production | May 13, 2015
RUAG completes acquisition of Patria’s space business
The sale of Patria’s space business to RUAG is now complete. On 7 May the two contracting parties completed the final transaction steps as planned.
The Finnish company’s space activities are being transferred to the newly founded RUAG Space Finland, which is also taking on all 29 employees. RUAG and Patria announced the acquisition in December 2014. RUAG Space Finland’s key product areas are spacecraft control electronics, electrical power subsystems, drive electronic units and related test equipment. The acquired space operations has been active in various satellite programs of the European Space Agency (ESA) such as the earth observation satellites Sentinel-2, Earthcare and Swarm and the Gaia space telescope. “We are very happy to welcome the Finnish staff into RUAG”, says Peter Guggenbach, CEO of RUAG Space. “The acquisition of Patria Space is an important step towards a further internationalization of our space operations and the skills and competence of the Finnish unit will be a valuable addition to our existing capabilities.”