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Edinburgh / Jacksonville, 4 October 2022. – Florida Space infrastructure company Redwire has entered into a definitive agreement with QinetiQ Group to acquire its science and engineering company, QinetiQ Space NV, Redwire said. QinetiQ Space NV is a Belgium-based commercial space business providing design and integration for end-to-end space missions. Redwire will acquire Space NV for €32 million subject to customary approvals and closing conditions. The deal is expected to close in Q4 2022.
Space NV was founded in 1983 and it delivers observation, platforms, science, navigation and secure communications critical infrastructure to civil and commercial space customers. Space NV’s core product offerings complement Redwire’s portfolio comprising payloads, small satellite technology, space instruments, berthing and docking equipment. Redwire will leverage Space NV’s enhanced scale and innovation capabilities, an expanded market and increased exposure to European customers.
Space NV has served customer such as the European Space Agency (ESA) and the Belgian Science Policy Office (BELSPO). Meanwhile, Redwire has supported the likes of NASA, the Luxembourg Space Agency (LSA), and U.S. national security.
According to QinetiQ Group, Space NV recorded €49 million of revenue and €3 million of profit after taxes for the year ended March 31, 2022. The business had also contracted a backlog of €113 million.
