Legal Quatro Abogados has advised the Spanish technology multinational GMV on the acquisition of a majority stake in Alen Space, a Spanish startup dedicated to the development and manufacture of nanosatellites.
The advisory team was led by Antonio Dionis and Angela Sayago, founding partner and partner, respectively, of Legal Quatro Abogados.
The operation involves GMV taking over the majority stake in the company’s capital and a capital increase, with the aim of boosting Alén Space’s turnover more than tenfold in five years’ time, making it a European and global leader in the small-satellite sector. The agreement contemplates that Alén Space will operate under its own brand and that the current management team will continue to lead the project.
Alen Space was born in 2019 as a spin-off of the University of Vigo and has grown steadily over the years, now reinforced by the entry of Grupo GMV in its share capital, which has the technology and complementary products and the capacity and resources to consolidate and multiply the startup’s growth.
For GMV the agreement means multiplying its bet on New Space, a sector in which the company has been working for years now, and reinforcing its leading position in the space sector worldwide, consolidating the company as one of the main players in this market.