Finmeccanica restructuring : Telespazio, Vega, Elsag Datamat

Telespazio has acquired the space activities of Finmeccanica subsidiaries Vega and Elsag Datamat.

Telespazio said the acquisition is more of a restructuring of Finmeccanica’s space services and applications business and aims to broadening the parent company’s technological competencies and product portfolio, particularly in Europe.

Vega, based in the United Kingdom, was bought by Finmeccanica in 2008, and since 2009, was under the control of Selex Sistemi Integrati. The company has operations in the United Kingdom, Germany, France, Holland and Spain and design, development and operations management for space missions.

Elsag Datamat’s Space business unit, based in Genoa, Italy, provides service and software to support complex systems for national and international programs. Both units will now fall under Telespazio management and continue operating under their company names.

Financial details of the acquisition were not disclosed