BAE’s satellites deal
BAE Systems has snapped up the space company that designed the world’s first ‘rideshare’ system for satellites for £13m.
In-Space Missions, which was founded in 2015, builds and operates satellites for customers. It can launch kit owned by several companies up in one satellite – which cuts down on the amount of ‘space junk’ left orbiting Earth. BAE will pay more for the Hampshirebased firm if it hits various performance targets.
The takeover came as BAE won contracts worth £220m to train pilots to fly the Typhoon fighter jet.
The deals will support about 120 jobs to set up the simulators and training facilities at sites in Lincolnshire and Moray in Scotland.