York Space Systems plans to acquire satellite communications terminal supplier All.Space in a deal worth close to 355 millions of dollars. This will allow the company to expand its activities beyond the production of spacecraft and enter the market of terminal equipment and network connectivity.
The Denver-headquartered satellite maker said, that acquisition, if approved, will make All.Space a wholly-owned subsidiary. Expected, that the deal will close in the third quarter.
“With this acquisition, York is creating a complete communications ecosystem, which works under conditions of opposition in commercial and state networks", said the company's chief executive officer, Dirk Wallinger, in a statement 30 April.
All.Space, founded in 2019 year with headquarters in Great Britain, has operations in Europe and the United States. The company produces multi-orbit multi-band communication terminals, designed to connect to satellites at low, medium and geostationary Earth orbits.
According to the regulatory submission, the total purchase price includes 155 million dollars in cash and to 5,9 million York shares. The deal is structured as a two-level merger through subsidiaries, after which All.Space will become part of York.
All.Space products are built around electronically controlled phased antenna arrays, which allow users to maintain simultaneous connections to several satellite networks. The systems are designed to work in motion — on vehicles, ships or planes — and intended for commercial use, as well as for defense use.
The company announced last year, which supplied terminals to the US Navy and the US Army.
The planned acquisition is York's second since, as the company went public earlier this year. In March, York acquired Orbion Space Technology, a provider of propulsion systems for satellites. Last year, the company acquired Atlas Space Operations, a provider of ground station services and software.
Together, these deals indicate a strategy to expand along the entire satellite value chain. York focused on building satellites, especially for US national security programs, and now moving to ground infrastructure and end-user terminals.
All.Space was formerly known as Isotropic Systems, a British company, founded for the development of electronically steered antennas, able to simultaneously connect to several satellites and frequency bands. Subsequently, it was rebranded, to reflect a broader focus on multi-orbit and multi-network connectivity.
Source: https://spacenews.com