Astrium said acquisition of 66.78 percent of Space Engineering will boost its communications product portfolio and increase its investment in research and development.
"This acquisition reinforces our commitment to Italy, a key player in space, and we will build upon Space Engineering's established product offering, in developing competitive and innovative technologies," said Astrium Chief Executive Officer Francois Auque.
"As a trusted partner of both the Italian and European Space Agencies, Space Engineering will further strengthen our portfolio, enabling us to provide cutting-edge digital telecommunications and RF technologies -- essential for our institutional and commercial customers."
A subsidiary of Space Engineering is Teleinformatica e Sistemi, which is involved in the development of telecommunications, navigation and remote sensing applications and engineering services for civilian and defense uses.
Notable deaths of 2014 [PHOTOS]