"Three major European aerospace companies, Airbus, Thales, and Leonardo, have reached an agreement to merge their satellite activities into a single new company. The merger strengthens Europe's position in the commercial space sector. It will also compete with Elon Musk's Starlink (photo). According to the companies involved, the new organization, set to launch in 2027, will generate annual revenue of around €6.5 billion and employ approximately 25,000 people across Europe."
"Techzine has already reported that Airbus will acquire a 35 percent stake. Thales and Leonardo will each receive 32.5 percent. The company will be under joint control, with a management structure designed to ensure balance between the three parties. The collaboration is the result of months of negotiations under the code name Project Bromo. The model is inspired by MBDA, the joint European missile manufacturer in which Airbus, Leonardo, and BAE Systems collaborate."
Airbus, Thales and Leonardo will merge their satellite activities into a single company scheduled to launch in 2027, aiming to generate about €6.5 billion in annual revenue and employ roughly 25,000 people across Europe. Airbus will hold 35 percent and Thales and Leonardo 32.5 percent each, with joint control and a balanced management structure. The deal follows months of negotiations under Project Bromo and follows a cooperation model similar to MBDA. The consolidation aims to capture hundreds of millions in annual synergies and to respond to market shifts toward low-cost LEO constellations led by SpaceX's Starlink and growing international competitors.
Read at Techzine Global
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