EADS Astrium to Acquire SSTL

EADS Astrium, Europe's largest space company, has announced plans to acquire British satellite manufacturer Surrey Satellite Technology Limited (SSTL).

SSTL was set up in 1995 as a University of Surrey business.

It produces small, low-cost platforms for Earth observation missions and built Grove-A, the first test satellite for Europe's Galileo programme.

The £40m-50m deal is subject to regulatory approval, and will provide the financial and industrial resources to further develop and expand SSTL, the BBC reports.

By staff writer