Indra Group moves to become major space player with acquisition of Hispasat

The Hispasat 1E satellite with its reflectors deployed. It carries 53 high-power Ku-band and Ka-band transponders. (SS/Loral)

Spanish defence firm Indra Group is building up its space capabilities, announcing an agreement on 3 February with Spanish infrastructure company Redeia to acquire its 89.68% stake in satellite firm Hispasat for EUR725 million (USD753 million). The deal also includes 43% of Hisdesat's stock capital, according to the Indra statement. Indra already owns 7% of Hisdesat's shares, giving it a 50% stake in the satellite services company, Indra confirmed to Janes on 5 February. Indra aims to exert majority control over Hisdesat, the company added.

“The agreement contains a suspensive clause that establishes the mandatory condition of Hisdesat's financial consolidation in Indra Group's accounts,” the statement noted. “This means that Hisdesat's financial information will be part of the Indra Group's financial information,” the company told Janes .

The acquisition is expected to close in the fourth quarter of 2025, subject to regulatory conditions, shareholder approval, and execution of the agreements to enable Indra to consolidate Hisdesat, the statement said.

Indra Space

Indra Group is integrating Indra Espacio, Deimos (acquired in 2024), Hispasat, and Hisdesat to create a new company to be known as Indra Space. “Additionally, Indra's 50% stake in Startical, an initiative to provide air traffic management communication and surveillance services, will be incorporated into” the new company, Indra told Janes .