GMV Acquires Alén Space
Madrid, Spain, June 21, 2023 - Alén Space has just entered into an acquisition agreement with the multinational tech firm GMV, which will make it part of GMV’s global business group.
The transaction is taking place through GMV’s acquisition of a majority stake in the company, in combination with a share capital increase. The goal is for Alén Space to increase its turnover tenfold in the next 5 years, to become a European and global leader in the small satellite market. Under this agreement, Alén Space will continue to operate under its own brand, while its current management team will continue to lead the project.
Given the strategic nature of this operation, Spain’s Center for Technological Industrial Development (CDTI), through its INVIERTE initiative, remains an investor in Alén Space and accompanies GMV in the corresponding capital increase.
For Alén Space, the agreement represents an opportunity to join a global technological group with a strong reputation in its market and a complementary technological and product portfolio. GMV also provides the capabilities and resources needed to consolidate and multiply the impressive growth trend Alén Space has been experiencing in recent years. All of this will reinforce the startup’s position vis-a-vis its clients and competitors according to the company.
Alén Space was established in 2019, as a spinoff of the University of Vigo. Since then, the company has been working on the development of nanosatellites and its team has led missions of international importance, achieving significant milestones such as placing Xatcobeo, the first Spanish nanosatellite, into orbit. The company collaborates with major space agencies and international bodies and has achieved wide recognition worldwide. Guillermo Lamelas, CEO of Alén Space: “This operation represents a unique opportunity for Alén Space, due to the excellent fit between the two companies, and GMV’s strong positioning and a great reputation. In a context characterized by strong growth and heavy competition, it opens a new path for us, where anything is possible.”
According to the CEO of GMV, Jesús B. Serrano: “This is a long-term agreement between GMV and Alén Space of which we are very proud. Together we aim to lead the manufacturing of small satellites and related technologies at a European and global level.”
GMV is a privately owned technology business group founded in 1984 and trading on a worldwide scale in the following sectors: Space, Aeronautics, Defense and Security, Cybersecurity, Intelligent Transportation Systems, Automotive, Healthcare, Telecommunications and IT for government authorities and major corporations. In 2022, the company posted revenues of over €311 million. Working with a staff of over 3,000, the company now runs subsidiaries in Spain, USA, Germany, France, Poland, Portugal, Romania, UK, The Netherlands, Belgium, Malaysia, and Colombia. Seventy five percent of its turnover comes from international projects on all five continents. The company's growth strategy is based on continuous innovation, and it plows back 5% of its turnover into inhouse R&D. GMV has reached CMMI level 5, the world's most prestigious model in terms of enhancing an organization’s process capability, and it has numerous international patents. Currently, GMV is the world's number-one independent supplier of ground control systems for commercial telecommunications satellite operators and the European leader in the ground segment of Global Navigation Satellite Systems (EGNOS and Galileo). It is also the primary provider of C41 command and control systems for the Spanish Army and the leading national provider of telematic systems for public transport. For over 20 years now it has also been a tried-and-trusted provider of telematics software, services, and systems in the automotive sector. In the ICT sector it has become a national benchmark as a provider of advanced cybersecurity solutions and services for IP networks, ICT applications and mobility applications for governments and the development of e-Administration.
