Acquisitions take time, and today the closing of the acquisition by Thales (Euronext Paris: HO) of RUAG’s opto-electronics business line finally concluded after receiving the approval by regulatory authorities.
Because of this acquisition, Thales Alenia Space will expand both its European footprint and enhance the solutions it offers for today’s science, Earth Observation (EO) and telecommunications markets.
Patrice Caine, Chairman & CEO of Thales, said, “Thales is very excited that this acquisition has now closed and welcomes RUAG’s talents as part of its family. This acquisition will notably contribute to reinforce our offer in the growing area of satellite constellations.”
Based in ZuÌˆrich, RUAG’s opto-electronics and instruments business line is specialized in scientific satellite instruments and in equipment for optical communications in space. The entity employs 75 people and recorded sales of 18 million Swiss francs in 2015 (16.6 million euros).