Aarhus, 5 July 2022. – Norwegian technology corporation Kongsberg Defence & Aerospace (Kongsberg), has entered into an agreement to acquire Lithuanian smallsat bus manufacturer and mission integrator, NanoAvionics, Kongsberg said. The planned acquisition will add products and technology for manufacturing small satellites to the company’s portfolio.
Kongsberg will acquire 77 % of the company for an enterprise value of € 65 million with the current majority owner, AST & Science divesting all its shares. The management of NanoAvionics will retain 23 % of the company. The parties plan to close the deal as soon as all customary closing conditions are met including any required regulatory reviews.
The companies will fuse their complementary technologies together including Kongsberg’s spacecraft subsystems and satellite ground stations. NanoAvionics will bring its smallsat expertise along with its 150+ employees and customers in over 40 countries to the deal.
The acquisition is in line with Kongsberg’s strategic plans to expand in the space technology sector. Earlier this year, the company procured three microsatellites from NanoAvionics to establish Norway’s first satellite constellation with unique capabilities. Kongsberg is opening a new 6,000-square-meter building today, with specialized development and production facilities.