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Satellite Evolution Group

AAC Clyde Space completes acquisition of Spacemetric AB

AAC Clyde Space completes acquisition of Spacemetric AB

AAC Clyde Space announced on 3 July 2024, that an agreement to acquire 100 percent of the outstanding shares in Spacemetric AB had been entered into with the shareholders of Spacemetric. AAC Clyde Space can now inform that the transaction has been completed and that the AAC Group is thus further expanded and strengthened.


In connection with closing, the board of directors in AAC Clyde Space, with support from the authorisation granted at the annual general meeting held on 23 May 2024, resolved to issue 188,000 shares and 106,800 warrants to the current shareholders in Spacemetric, entailing a total increase of AAC Clyde Space's share capital with SEK 589,600, provided that all earn-out milestones are fulfilled and that the warrants are exercised for subscription of shares.


The consideration shares received as payment on closing are subject lock-up undertakings, whereby one third of the shares are subject to a lock-up for 360 days, one third of the shares are subject to a lock-up for 630 days and one third of the shares are subject to a lock-up for 810 days. Shares issued by exercise of the warrants will be subject to a lock-up for 360 days.


Luís Gomes, AAC Clyde Space CEO commented "I would like to welcome our new colleagues from Spacemetric to the AAC Clyde Space group. Their expertise will be invaluable in the expansion of our Earth Observation operations, both for our own Data & Services offerings and for our EO satellite customers, to whom we can now offer the complete solution to process and manage imaging data together with their satellite. Together we will make it easier for user to access the Earth Observation data that they need."

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