BAE Systems sees big opportunity in space after UK satellite bolt-on

LONDON (Reuters) – British defence company BAE Systems said space was a big area of opportunity, after it acquired UK-based satellite specialist In-Space Missions on Tuesday.

“It (space) will be a big opportunity for us,” Chief Executive Charles Woodburn told Reuters.

In-Space Missions, a southern England-based company with 30 employees, gives BAE exposure to the design, building and operation of satellites and satellite systems, which it sees as being key to defence missions of the future.

The price of the acquisition was not disclosed but it was said to be non-material at the group level.

(Reporting by Sarah Young, Editing by Paul Sandle)