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ClydeSpace Acquired by Swedish Spacetech Rival

Brian Baglow

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Clyde Space Acquisition: Spacetech firm acquired by AAC Microtech for £26M

The creator of Scotland’s first satellite has been acquired to create a new market-leading small spacetech business.

Glasgow’s ClydeSpace, one of Scotland’s leading ‘new space’ firms has been acquired by Swedish company AAC Microtec in a deal worth £26 million.

ClydeSpace is the creator of ‘CubeSat’ micro satellites. It has so far provided 2,000 CubeSats and power systems for use on spacecraft for processes from monitoring bush fires to sending communications signals. Last year, the company manufactured 60 satellites in Scotland and boasts of clients including NASA, the UK Space Agency and the US Air Force.

The company also provides launch services and operates a ground station which processes the data gathered by its satellites.

Clyde Space AcquiredCraig Clark, the founder and CEO of ClydeSpace, said: “With our combined resources, know-how and pools of highly competent individuals, we will jointly be able to boost the creation of innovative technology and products, and continue to lead the way in the most commercially interesting segments of the satellite market.”

Rolf Hallencreutz, chairman of AAC said that Clyde Space has a strong brand and a market leading position in the space technology market: “We are very excited to welcome the talented and highly innovative Clyde Space team. Together, our companies secure a leadership position in the CubeSat market and can claim a strong position in the high-reliability small satellite segment.”

The company will remain based in Glasgow, where it currently employs 77 people.

ClydeSpace was founded by Mr Clark in 2005 after studying electronic engineering at Glasgow University, Despite initial skepticism from the industry, the company has gained an international reputation as a leader in the new space data sector. The company is the creator of UKube-1, the first satellite to be designed and built in Scotland.

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Brian Baglow

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