Ruag Buys Saab’s Space Business

Switzerland’s Ruag has acquired Saab’s space business (Saab Space, based in Gothenburg), including its subsidiary, Austrian Aerospace, for 335 million Swedish Krona ($56 million) and additional consideration based on future performance. Saab said that it has “not been able to achieve sufficient synergies with other operations within Saab,” although the division was “well managed and profitable.”