Tuesday, April 08, 2008

Surrey sale is final

Surrey Satellite Technology Ltd (SSTL) has been sold for 40-50 million GBP to as EADS-owned space company, Astrium. Thales was reported to also be a suitor, which may account for Astrium paying what's generally agreed to be a robust, if not premium, price. Astrium has promised to keep SSTL's independence and character while giving it the resources to bid on some large contracts it missed out on in the past.
COMMENT: I hope SSTL keeps its character and spirit of innovation intact. As I said in the last post, the track record with such acquisitions is not good. But here's keeping fingers crossed.

No comments: