July M&A Activity
July 5 – AST SpaceMobile, Inc. announced that it entered into an agreement to sell its majority ownership interest in smallsat manufacturer NanoAvionics Corp. (NanoAvionics) to Kongsberg Defence & Aerospace (Kongsberg), the space and maritime surveillance business unit of Norway’s Kongsberg Gruppen. The contemplated transaction values NanoAvionics at approximately $68m, with Kongsberg acquiring a 77% ownership interest in the company, while company management will retain a 23% stake. The transaction is expected to close in Q3 2022, subject to regulatory approvals.
July 8 – Safran Electronics & Defense SAS acquired Orolia SAS, a manufacturer of atomic clocks, from private equity investor Eurazeo SE for €189m with the aim of consolidating its leading position in the market for resilient positioning, navigation and timing systems.
