From the left: Dag H. Stølan, CEO Space Norway and Morten Tengs, CEO Telenor Satellite. Photo: Space Norway.

Space Norway has completed its acquisition of Telenor Satellite following approval by the Norwegian parliament. The completion of the deal was announced, Jan. 4.

The purchase by Space Norway gives Telenor Satellite an industrial owner with a strategic focus to try and realize the company’s potential in the coming decades. The deal took less than two months to close, as the original deal between the two companies was announced in mid-November.  This collaboration aims to drive business development and growth across commercial and government verticals using space assets in all orbits, including LEO, HEO, and GEO.

“We are pleased to be part of an organisation fully-owned by the Norwegian Ministry of Trade, Industry and Fisheries which plays a key part in the Government’s activities in the space sector and whose core business is satellite. Space Norway has some of the most innovative projects in this industry and we are excited to bring our industry experience and expertise to the table. Together, we will continue to develop the Norwegian space sector while serving our clients throughout the Nordics and EMEA,” Telenor Satellite’s CEO, Morten Tengs, said in a statement.