4iG Concludes Deal to Acquire 45% of Space Company Remred

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4iG's space technology spin-off has signed an investment and shareholders' agreement to acquire 45% of Remred, a space engineering company, through a EUR 25 million capital raise, the listed ICT company said on Thursday.

Remred, which is a supplier to the European Space Agency (ESA), Nasa and the Japanese Space Agency (Jaxa), is preparing to set up a space technology center suitable for assembling satellites up to 400 kg.

With the acquisition, 4iG Group aims to strengthen further its presence on the global satellite market and enter the international space technology manufacturing market.

4iG had said it would acquire the stake in REMRED when it announced plans in February to spin off its space business into 4iG Space and Technology.

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