New Canaan, Connecticut - Near Earth LLC announced today that its client SpaceQuest, Ltd. has entered into a definitive agreement to be acquired by AAC Clyde Space AB. Near Earth LLC acted as the exclusive financial and strategic advisor to SpaceQuest, Ltd. in this transaction.
Hoyt Davidson, Managing Partner of Near Earth's satellite and space sector, remarked "This transaction joins together a long-standing U.S. pioneer in the design, manufacture and operation of microsats, cubesats and satellite components with a leading international provider of turnkey small satellite solutions and services. We expect this combination to generate exciting new synergies and opportunities for growth."
AAC Clyde Space Chairman Rolf Hallencreutz commented on the transaction, "We are transforming AAC into a true leader in the small satellite field. With SpaceQuest we gain a commercially attractive Space as a Service business and a strong foothold in the U.S., the largest and most dynamic space market. Last week's announcement of the acquisition of Hyperion shows our commitment to providing state of the art technology. By bringing these two companies into the group we become a truly global supplier of space systems and a very attractive partner for companies who are looking to exploit opportunities based on data from space."
Founder and CEO of SpaceQuest Dino Lorenzini said "With access to AAC's world class designs, SpaceQuest will be able to successfully grow in the very dynamic U.S. space market. There is a growing market demand for quality suppliers of satellite technology. The combination of SpaceQuest's brand name, products and satellite infrastructure, along with the platform designs from AAC opens up new opportunities for us. The combination of SpaceQuest, Hyperion and AAC Clyde Space creates a powerful and synergistic capability."