EADS Astrium announced that it had signed a deal with

UK-based Surrey University to acquire small satellite manufacturer Surrey Satellite Technology Limited (SSTL). In a statement, parent company EADS explained that Surrey University would sell its stake of about 80 % in SSTL, which would remain an independent UK company. The deal is pending to regulatory approval. No price has been formally announced, but The Guardian calculates that the contract is valued at ? 40M to ? 50M. EADS added in its statement that “SSTL will benefit from access to the resources of a large corporation including design, manufacturing and test facilities, while Astrium will benefit from enhanced links with the Surrey University to support staff training and development, also leading to greater cooperation and increased research on space technology and systems”. Surrey University vice-Chancellor Pr Christopher Snowden explained that the university had considered selling its stake in SSTL for some time, because the fast-growing company needed more resources to expand. He rejoiced over the sale to EADS Astrium that will allow SSTL to “realise its full potential as a rapidly growing and leading supplier of small and micro satellites, while the university retains the benefit of a close interaction with SSTL and its new partner, EADS Astrium”. Colin Paynter, chief executive of Astrium in the UK, told The Daily Telegraph that “SSTL is one of the great success stories of the UK space industry. It will be a substantial complement to what we can offer customers around the world”. AFP (07/04), AFX (07/04), Le Figaro Economie, La Correspondance Economique, Borsen-Zeitung, Suddeutsche Zeitung, The Guardian, The Daily Telegraph, Negocio