SOLNA, Sweden, August 19, 2016 (SSC PR) — Swedish Space Corporation (SSC) has entered into a non-binding letter of intent with GomSpace, parent company of GomSpace ApS, regarding the potential sale of 100% of SSC’s shares in its Swedish subsidiary NanoSpace AB.
The LOI contains broad terms of a potential transaction with the right for GomSpace to conduct a due diligence investigation and the acquisition is conditional upon both parties entering into a definite agreement containing specific signing and closing terms and conditions yet to be negotiated.
SSC’s focus is to be a leading global provider of advanced space services through its core business activities organized in three divisions; Science Services, Satellite Management Services and Engineering Services. SSC is therefore seeking new owners for its fully-owned space technology and product oriented subsidiary NanoSpace.
NanoSpace is a company that develops and provides propulsion technology and products for satellites, and participates in space technology projects funded by the European Space Agency (ESA), US Space Agency (NASA) and Swedish R&D programs. NanoSpace’s propulsion technology and products are based on the company’s leading expertise in applying MEMS (Micro Electro Mechanical Systems) technology to space propulsion – providing unique advantages in miniaturization and precise thrust control. NanoSpace has developed products based on their own patents since 2005. 2015 was a breakthrough on the market when three of the company’s products made their maiden flight in space. The rapidly growing market of micro- and nanosatellites does also match the company’s product portfolio. Combining NanoSpace products and technology with GomSpace market presence and customers in 45 countries is an excellent match that will enable continued development and growth for NanoSpace.
About GS Sweden AB
The Company’s business operations are conducted through the wholly-owned Danish subsidiary, GomSpace ApS, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The Company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB is the Company’s Certified Adviser.
For more information, please visit our website on www.gomspace.com.