Airbus-Leonardo-Thales agreement signed in the space sector: 6.5 billion group born
It will be a globally competitive player with an annual turnover of approximately 6.5 billion (pro forma figure, end of 2024)
Airbus, Leonardo and THales have signed a Memorandum of Understanding with the aim of unifying their respective space activities in a new company. By signing the MoU Airbus, Leonardo and Thales are aiming to join forces to consolidate Europe's strategic autonomy in space, a crucial sector that supports critical infrastructures and services in the fields of telecommunications, global navigation, Earth observation, scientific research, exploration and national security, according to a statement.
What will happen?
After completion of the transaction, the new company will be structured with the following contributions:
Airbus will contribute its Space Systems and Space Digital businesses from Airbus Defence and Space;
Leonardo will contribute its Space Division, including its shares in Telespazio and Thales Alenia Space;
Thales will contribute mainly with its shares in Thales Alenia Space, Telespazio and Thales SESO.
The new company will employ around 25,000 people across Europe and will be a globally competitive player with an annual turnover of around 6.5 billion (pro forma figure, end of 2024) and an order backlog of more than three years of expected revenues.
The shareholding of the new company will be shared between Airbus, Leonardo and Thales, who will own 35%, 32.5% and 32.5% respectively, and will operate under joint control, with balanced governance between the shareholders.
