Indra Advances Space Strategy with Creation of Space NewCo and Acquisition of Deimos

Indra Advances Space Strategy with Creation of Space NewCo and Acquisition of Deimos

(IN BRIEF) Indra has approved the creation of Space NewCo and signed a contract to acquire Deimos from Elecnor, strengthening its capabilities in the space industry. Space NewCo will integrate Indra’s stake in Startical, enhancing its position in air traffic management services. These strategic moves are part of Indra’s plan to become a leading player in the European space sector, with a revenue target of over €1 billion by 2030.

(PRESS RELEASE) MADRID, 7-Aug-2024 — /EuropaWire/ — Indra’s Board of Directors has approved the creation of Space NewCo, an entity designed to provide comprehensive capabilities across the space industry value chain. This move is part of Indra’s “Leading the Future” Strategic Plan, aimed at positioning the company as a significant player in domestic, European, and international space programs.

To bolster its portfolio, Indra has signed a contract with Elecnor to acquire Deimos, a Spanish company specializing in space missions and satellite integration. Deimos, with subsidiaries in the UK and various EU countries, will enhance Indra’s capabilities in all phases of space missions, including satellite design, integration, and ground segment operations. This acquisition is expected to be completed in the last quarter of the year, pending regulatory approvals.

The new Space NewCo will also incorporate Indra’s 50% stake in Startical, an initiative providing air traffic management communication and surveillance services, strengthening its position in the downstream segment for space capability exploitation.

Indra’s strategic moves underscore its commitment to leading the European space industry, with ambitions to achieve over €1 billion in revenues by 2030. The company aims to integrate long-term global partners to enhance financial capacity and accelerate growth in Europe.

About Deimos

Deimos (www.elecnor-deimos.com) is a European technology company founded in 2001, with its headquarters in Spain and subsidiaries in Portugal, Italy, Romania and the United Kingdom. As a technological branch of the Elecnor Group, Deimos specializes in the undertaking of space missions based on small satellites, the provision of engineering services and the development of software systems in different sectors.

About Indra Group

Indra Group is a holding company promoting technological progress which is made up of Indra, one of the main global defence, air traffic and space companies, and Minsait, a leader of the digital transformation and information technologies in Spain and Latin America. Indra Group empowers a safer and better-connected future through innovative solutions, trusted relationships and the very best talent. Sustainability is an integral part of its strategy and culture in order to overcome current-day and future social and environmental challenges. In the 2023 financial year, Indra Group posted revenues totaling €4.343 billion, with more than 57,000 employees, a local presence in 46 countries and business operations in over 140 countries.

Media Contact:

Communication:
Toñi García Carballal
magcarballal@indra.es
+34 648102948

SOURCE: Indra