AAC Clyde Space - Extending its world view
In recent weeks, AAC Clyde Space has announced agreed deals for two proposed acquisitions, SpaceQuest in the US for SEK75.6m and Hyperion Technologies in the Netherlands for SEK22.8m. Both deals are in line with its strategy, meeting both commercial and technical goals and, importantly, adding US and European manufacturing capacities. We have lowered our revenue estimates for the ongoing business by 15% in FY20 and 3% in FY21 in line with the recent update, but the deals should profitably augment what is still strong organic revenue growth. A successful capital raise of SEK52m before costs should allow AAC to pursue and optimise further New Space investment opportunities as they arise.AAC Clyde Space AB, formerly AAC Microtec AB, is a Sweden-based company, which is primarily involved in the aerospace industry. The Company operates as a provider of space solutions and systems for commercial, governmental and educational purposes on the global market through its partner network and offices in Sweden, the United States and the United Kingdom. The Company specializes in small, purpose-built satellites, as well as sub-systems and components. The Company's customers include the European Space Agency (ESA), National Aeronautics and Space Administration (NASA), Orbcomm, Kepler Communications, NSLComm, KP Labs and Orbital Micro Systems, among others.
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