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