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Swedish Space Completes Acquisition Of Universal Space Network
Esrange, Sweden (SPX) May 04, 2009 The Swedish Space Corporation (SSC) has received all necessary approvals from the U.S. Government and has completed the acquisition of U.S.-based Universal Space Network (USN), a leader in space operations for telemetry, tracking and control (TT and C) services. USN will operate as a U.S. Corporation and subsidiary of SSC with no change to its operation or organization. With the completion of this acquisition, SSC and USN will together provide a larger set of global services to their customers while continuing to provide a high level of support to each customer locally. PrioraNet, the trademarked name of their global satellite tracking service, is now positioned to better support civil, commercial and government missions worldwide. "The acquisition of USN is an important step to provide satellite owners and operators with a world-class, one-stop-shop for satellite operations and management service. This further complements SSC's recent acquisition of the Santiago Chile ground station completed less than a year ago. As other products and services are added, the expanding SSC group will be better positioned to help our customers exceed their global growth and profitability objectives," says Lars Persson, President and CEO of Swedish Space Corporation. "The objective of this acquisition has been to increase the robustness of USN's current operations services while enabling expansion of commercially based mission critical operations services to the industry," stated Tom Ingersoll, USN CEO. "As part of the SSC group, USN is now well positioned to provide expanded, long term satellite operations services to its U.S. customers." Joining the USN Board of Directors related to this acquisition are Mr. Eric J. Zahler, Managing Director and Co-founder, Sagamore Capital Group LLC and former President and Chief Operating Officer of Loral Space and Communications Inc., who will also serve as Chairman of the USN Board of Directors; Lt Gen Michael A. Hamel (USAF Ret.), Senior Vice President, Strategy and Development, Orbital Sciences Corp. and former Commander, U. S. Air Force Space and Missile Systems Center; and Mr. James W. Cuminale, currently the Chief Legal Officer at The Nielsen Company and former Executive Vice President of Corporate Development and General Counsel at PanAmSat. The addition of Mr. Zahler, General Hamel and Mr. Cuminale as board members ensures that USN will continue to provide mission critical services to its several U.S. clients in the government and commercial sectors. Share This Article With Planet Earth
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