The transaction includes the business operations and assets. The 32 employees currently working in Patria’s Space unit in Tampere will be employed in the newly founded company RUAG Space Finland.
Patria’s Space activities are currently part of the Finnish company’s Systems Business Unit. The key product areas are spacecraft control electronics, electrical power subsystems, electronic units and related test equipment.
The company has been very successful and active in various Satellite programs of the European Space Agency, ESA, such as the Earth observation satellites Sentinel-2, Earthcare and Swarm and the Gaia space telescope. Currently on-going for ESA’s solar probe Solar Orbiter, where Patria is responsible for the spacecraft Electrical Power Subsystem, can be seen as a successful continuation from Rosetta power electronics equipment deliveries over the last ten years.
“The acquisition of Patria’s Space unit gives us the opportunity to broaden our technology base and to enhance our product portfolio in the area of Space Electronics. This will help us further improve our position particularly in the commercial satellite market”, explained Urs Breitmeier, CEO of RUAG.”
“Both Patria Space and RUAG Space are world class suppliers of high quality and advanced space equipment and have a good strategic fit. And to offer a better growth basis for space business we see our Space unit has more possibilities to develop further as a part of RUAG Group, where space is defined as a strategic priority”, said Jukka Holkeri, Chief Strategy Officer at Patria.
