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talksatellite
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Daily news
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Space
Norway finalises acquisition of a prominent European
satellite communications company
Telenor Satellite, a leading European provider
of satellite TV broadcast and VSAT data
communications services for maritime and land-based
sectors, has today announced that its acquisition by
Space Norway has been ratified following approval
from the Norwegian Parliament. The transaction was
closed with the formal signing of the agreement on
January 4th 2024.
The purchase by Space Norway gives Telenor Satellite
an industrial owner with the relevant strategic
focus to realise the company’s potential in the
coming decades, ensuring that its customers continue
to benefit from financial investment in its future.
Telenor Satellite’s CEO, Morten Tengs, said: “We are
pleased to be part of an organisation fully-owned by
the Norwegian Ministry of Trade, Industry and
Fisheries which plays a key part in the Government’s
activities in the space sector and whose core
business is satellite. Space Norway has some of the
most innovative projects in this industry and we are
excited to bring our industry experience and
expertise to the table. Together, we will continue
to develop the Norwegian space sector while serving
our clients throughout the Nordics and EMEA.”
"With ownership of Telenor Satellite, Space Norway
gains new opportunities for development and growth.
We are now the largest and leading satellite
competence centre in Norway and a significant
satellite operator in Europe," said Space Norway’s
CEO, Dag H. Stølan.
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