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.
More information about the acquisition can be found here:
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Notes to Editor:
Telenor Satellite is a major European satellite provider delivering premium broadcast and data communication services to the broadcast, maritime, and oil and gas vertical markets in the European, Middle East and North African (EMEA) markets. Telenor Satellite utilises a hybrid network that comprises its 1° West satellite fleet, teleports and a terrestrial fibre network. It provides reliable communications in remote locations on land and at sea, keeping customers connected via satellite. www.telenorsat.com
Space Norway’s task is to manage and further develop strategic and security-critical space infrastructure safeguarding basic national functions. Space Norway’s activity level has increased significantly in recent years, as several essential space programs and projects have been carried to completion. In addition to transmitting satellite data to customers worldwide, Space Norway owns and is responsible for the fibreoptic connection between mainland Norway and Svalbard. The fibre connection has triggered significant space-related business development and provided benefits for the Svalbard community. https://spacenorway.no/en