Surrey Satellite sale

EADS Astrium, Europe’s leading space equipment maker, has completed the acquisition of Surrey University spin-off company Surrey Satellite Technology (SSTL).

The deal follows regulatory approval from the European Commission (EC) after Surrey University’s decision to dispose of its 85 per cent stake in the company.

Under the terms of the agreement, SSTL will be owned by EADS Astrium in the Netherlands, but will operate as an independent company in the UK.

SSTL, which has built its reputation on the development of small satellites and subsystems, will benefit from the agreement by gaining access to greater resources and advancing research into new technology.

Astrium’s European links are also expected to bring regional benefits to the south east’s aerospace industry and improve the research capabilities of SSTL and Surrey University.