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The acquisition of Omnisys Instruments was completed on 30 April 2021. The combination of existing cubesat knowledge with microwave sensing technology should allow AAC Clyde Space to extend its product and service offering in the high growth, space-based weather and climate data market. We have adjusted our estimates to reflect the purchase of the already profitable business and the contingent fundraise of SEK100m (gross). AAC Clyde Space continues to execute its growth strategy and appears to be moving to profitability and cash generation.

Research dated 17 May 2021

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AAC Clyde Space AB is engaged in advanced nanosatellite spacecraft, mission services, and reliable subsystems. It provides new space solutions and services for government, commercial, and educational organizations. The group has two reportable segments: AAC Clyde Space (Swedish operation) develops and produces data processing and power systems for CubeSats and small satellites (1 to 500 kg); Clyde Space (Scottish operation) offers customized, turnkey services from design to operation of satellite systems in orbit, including reliable satellite platforms and subsystems from 1 to 50 kg.