Indra has signed a contract with Elecnor for the acquisition of Deimos, a Spanish space company specializing in the undertaking of space missions and satellite integration, which has subsidiaries in the United Kingdom and several European Union countries. The agreement constitutes a major step in Indra’s space strategy and complements other recent developments, including the approval of the Indra Space spin-off and the creation of the Space NewCo and the integration of the Startical initiative into its portfolio.
On June 27, the Shareholders’ Meeting approved the Indra Space spin-off, as announced during the presentation of the Leading the Future Strategic Plan, together with the incorporation of the Space NewCo, recently approved by Indra’s Board of Directors. This new entity will serve as a vehicle to offer comprehensive capabilities throughout the space industry value chain, seeking to position Indra as a relevant player in domestic, European and international space programs and initiatives.
In an initial step to fulfill this ambition, Indra has entered into a contract with Elecnor for the acquisition of Deimos to strengthen its capabilities in all phases of a space mission. Deimos will provide key capabilities for the integration of satellites and critical flight subsystems. The acquisition will also enhance Indra’s capabilities in the ground segment, particularly in terms of control and mission software and space surveillance and tracking. Deimos also enjoys a privileged position among space institutions and participates in domestic and European programs and initiatives, factors that will reinforce Indra’s position in the space industry. The transaction is expected to be completed in the last quarter of the year, once the customary regulatory approvals have been obtained.
In addition, in order to reinforce the positioning of the Space NewCo in the downstream segment for the exploitation of space capabilities, it will incorporate Indra’s 50% stake in Startical, a project for the provision of air traffic management communication and surveillance services.
With these developments Indra demonstrates its commitment and its desire to stand at the forefront of the European space industry, with an integral presence in the value chain. The operation also forms part of one of the key lines of growth included in the Leading the Future Strategic Plan presented by Indra this year. This new company envisions incorporating long-term global partners to increase its financial capacity and speed up its inorganic growth in Europe, with the aim of achieving revenues totaling more than €1 billion by 2030.
