With recorded sales of 18 million Swiss francs in 2016 (16.6 million euros), and with 75 personnel, RUAG's opto-electronics business line is about to be acquired by Thales Alenia Space—the transaction is subject to the usual closing conditions and should be finalized by the end of the year.
Based in Zürich, RUAG’s opto-electronics and instruments product unit is specialized in scientific satellite instruments and in equipment for optical communications in space. With this acquisition, Thales Alenia Space will be able to expand their European footprint as well as enhance the solutions the firm offers for today’s science, Earth Observation and telecommunications markets.
This move is part of an ongoing plan for Thales Alenia Space's European development strategy, especially within countries that have revealed an active and growing interest in the space sector. The RUAG opto-electronics acquisition will also become an integral part of Thales Alenia Space's export solutins.
The acquisition reflects Thales Alenia Space’s development strategy in Europe, especially in countries that have shown an active and growing interest in the space sector, backed by investments. It will address both domestic and European government markets, and will also become an integral part of Thales Alenia Space’s export solutions.
Patrice Caine, Chairman & CEO of Thales, believes this targeted acquisition is yet another illustration of Thales’s growth strategy to be the leading supplier of space products to the industry.
With a focus on space structures, mechanisms, digital-electronics and high-frequency products, Peter Guggenbach, CEO RUAG Space, relayed that acquisition by this world class company will give this business a prosperous future.