Technology News
Thales to acquire satellite businesses from Orbital Sciences
The agreement, valued at roughly $70m in total, includes two of Orbital Sciences' subsidiaries - Magellan, a global supplier of GPS equipment, and NavSol, which is responsible for the Hertz car rental group's satellite-based car navigation service.
"Thanks to the increasing market penetration of GPS receivers, the introduction of new functions and the rapid development of related services, the world GPS market is growing by an estimated 20% annually," said John Hughes, chief executive of Thales' Information Technology & Services (IT&S) business area. "The acquisition will strengthen the Group's presence in international markets and make it one of the top three suppliers worldwide in this area with combined revenues of around 150m euros."
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