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by Staff Writers
London, UK (SPX) Oct 11, 2012
In response to a formal announcement made by Rovsing A/S of Denmark on the 20th of September 2012, the SSBV Aerospace and Technology Group (SSBV) is pleased to acknowledge the merger of satellite simulation and test products between the parties.
As part of a board-approved action, Rovsing A/S has entered into an agreement with SSBV that will result in the merger of both companies' product lines in the satellite and payload simulation and test fields.
Through an asset for equity exchange in the form of a convertible loan, Rovsing acquires IPR from SSBV for 31 products of the widely deployed DSTE product line. After conversion of the loan, SSBV is expected to become the largest shareholder in Rovsing. No employees will be transferred.
Following further approval and formalisation, Rovsing will trade under the name SSBV-Rovsing A/S and become a member of the SSBV Aerospace and Technology Group, focussing on the provision of complete instrument, payload and satellite simulation and test solutions.
SSBV will support Rovsing during a transfer period of 18 months, including the provision of business development, manufacturing and engineering support.
The combined products from Rovsing and SSBV, and the access to other SSBV Aerospace and Technology Group resources and products, will further strengthen the capabilities of SSBV- Rovsing and is expected to greatly increase its potential market share in both the institutional and commercial markets.
"We are looking forward to the continued deployment and further development of the DSTE product line within SSBV-Rovsing, and are excited as to the opportunities it will bring to the organisation" stated Mr. Gregory Sims, Founder and Chairman of SSBV.
Space Technology News - Applications and Research
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