US EditionDefense giants Airbus, Thales and Leonardo announce space merger to rival Elon Musk’s Starlink
- In a move to unify Europe's space sector, Airbus, Leonardo and Thales agreed on Oct. 23 to create a joint venture merging many of their space activities, calling it a pivotal milestone for Europe's space industry.
- Project Bromo has been under development for more than a year, with due diligence and antitrust preparations ongoing while summer talks stalled over valuation and governance discussions.
- The companies said the new firm will fold in Airbus Defence and Space's Space Systems and Space Digital, Leonardo's Space Division including Telespazio and Thales Alenia Space, and Thales SESO, excluding launch vehicle activities like Airbus's ArianeGroup stake.
- Projected to generate 6.5 billion euros in annual revenue, the new company would bring together about 25,000 employees across Europe working on satellites and space services.
- European antitrust approvals could take up to two years, and the companies said they expect operations to begin in 2027, subject to regulatory clearances.
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A merger of Airbus, Leonardo and Thales, called "Projeto Bromo", is assessed at EUR 6.5 billion. The company aims to compete with SpaceX, by Elon Musk, and will be established in Toulouse.
The vast majority of satellites in orbit around the Earth at the moment bear the stamp of Elon Musk's SpaceX; there are sources that raise it to 84% of the total. As the space giant is not listed on the Stock Exchange, it is not obliged to be held accountable, so we will have to rely on what the tycoon himself said in June, when he ventured that the company will end this year with an income of more than $15 billion (about 13 billion euros, at th…
Airbus, Leonardo and Thales agree to form new European company
Technicians with the European Space Agency and Airbus/Airbus Netherlands are shown performing an illumination test on one of the solar array wing panels during installation on the Orion spacecraft for Artemis I inside the Neil Armstrong Operations and Checkout Building high bay at NASA’s Kennedy Space Center in Florida on Sept. 30, 2020. The solar arrays were extended, inspected, and then retracted, before installation on the spacecraft. Each so…
Companies with 6.5 billion turnover, alternative to global giants (ANSA)
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