The European space and technology group OHB AG (Prime Standard, ISIN: DE0005936124) has acquired the Space Systems Division from Swedish Space Corporation (SSC) via an asset deal and integrated this business within the newly incorporated company OHB Sweden AB, Stockholm. With 50 employees, this division generated sales of around EUR 21 million last year.

With the acquisition of this business and the incorporation of OHB Sweden, OHB AG has gained access to important and valuable resources and skills in the development and construction of satellite and payload systems. Renamed OHB Sweden, the division is an industrial partner to both the Swedish National Space Board and the European Space Agency ESA with many years' standing.  Its references include such projects as "SMART-1", the first electrically-powered European lunar mission, the two inexpensive "Astrid" satellites for measuring the earth's electrical and magnetic fields and "Odin", an observatory for astronomy and atmospheric chemistry. OHB Sweden's current programs include an essential share in the development and construction of the SGEO satellite platform, which is of material importance to the OHB Group, the lead management of the Swedish Prisma demonstrator model and a subcontract for the development and construction of a microwave instrument for ESA's PREMIER environmental satellite mission.

With this transaction, OHB AG is continuing its European growth strategy in ESA countries. Sweden is amongst the top ten financial contributors to ESA and holds key positions within European space programs.