October 23, 2025

Airbus, Thales and Leonardo agree to merge their satellite and space systems businesses into a new European company

Press Release
Airbus, Thales, and Leonardo have agreed to merge their European satellite and space systems businesses into a new entity, which will be operational by 2027. The merger, known as 'Project Bromo', aims to enhance Europe's competitiveness in the global space market. The combined company, which will be headquartered in Toulouse, will have a workforce of 25,000 and is expected to generate annual revenues of approximately EUR 6.5bn. The company has a projected enterprise value of EUR 6bn. Thales Alenia Space and Telespazio, joint ventures of Thales and Leonardo, will be merged with two Airbus subsidiaries and the remaining satellite businesses of Leonardo and Thales under a common holding. The company is expected to be profitable from day one and aims to increase its revenues to around EUR 8bn by 2027. Airbus will initially hold 35% of the shares, while each of the other two partners will hold 32.5%. After adjustments, each partner will hold a 33.3% stake. The leadership of the new company
Transaction announcement
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