Indra will acquire an 89.68% stake in satellite operator Hispasat, including a 43% stake in Hisdesat, from Redeia for €725 million ($744 million). Indra already owns 7% of Hisdesat.
While both Hispasat and Hisdesat are involved in the Spanish satellite industry, they serve distinct purposes. Hispasat primarily functions as a commercial satellite operator, providing a wide array of communication services, such as broadcasting, broadband internet, data transmission, and telephony, to a diverse customer base that includes broadcasters, telecommunications companies, governments, and individuals.
Hisdesat meanwhile specializes in secure satellite communications and services, primarily catering to government and defense applications. They offer highly reliable and secure communication solutions for military operations, government agencies, emergency services, and other critical applications. Essentially, Hispasat focuses on the commercial market with a broad range of services, while Hisdesat concentrates on the government and defense sectors, providing secure and reliable communications for crucial needs.
This acquisition reflects Indra’s strategic interest in securing control of space-based communications, a capability of growing importance in both civil and military domains. Following its 2024 acquisition of Deimos, Indra plans on integrating the capabilities of Hispasat and Hisdesat into its newly formed space division, Indra Space.
Indra aims to increase its market share in the Spanish and European space sectors, becoming a key player. The company is currently involved in major European space initiatives, including IRIS2, Galileo, EGNOS, and Copernicus, and plans to expand into areas like Space Surveillance, LEO PNT (Low Earth Orbit Positioning, Navigation, and Timing), and advanced Earth Observation programs.
“This is another step towards positioning ourselves at the forefront of the European space industry and achieving our goal of €1 billion in space revenues by 2030,” said Indra Group CEO José Vicente de los Mozos. “In upstream, Deimos and Indra Espacio will enable Indra Space to lead the design and manufacture of LEO/MEO satellites and ground segment initiatives. Hispasat will drive our secure civilian communications services, while Hisdesat will allow us to provide military communications and surveillance services”.
Domestically, Indra is contributing to critical Spanish programs such as SpainSat NG and PAZ, focused on national sovereignty. The company also intends to participate in future strategic programs like Signal Intelligence and SEOT (Spanish Earth Observation Telescope)
The combined operations of Hispasat and Hisdesat are projected to generate €20 to €30 million in EBITDA (earnings before interest, taxes, depreciation, and amortization) by 2026, increasing to €50 to €70 million by 2030. By 2026, they are expected to generate €400 million in revenue for Indra, with €190 million in EBITDA and €50 million in EBIT.
A military history enthusiast, Richard began at Forecast International as editor of the World Weapons Weekly newsletter. As the Internet grew in importance as a research tool, he helped design the company's Forecast Intelligence Center and currently coordinates the EMarket Alert newsletters for clients. Richard also manages social media efforts, including two new blogs: Defense & Security Monitor, covering defense systems and international issues, and Flight Plan, which focuses on commercial aviation and space systems. For over 30 years, Richard has authored the Defense & Aerospace Companies, Volume I (North America) and Volume II (International) services. The two books provide detailed data on major aerospace and defense contractors. He also edits the International Contractors service, a database that tracks all the contractors involved in the programs covered in the FI library. More recently he was appointed Manager, Information Services Group (ISG), a new unit that encompasses developing outbound content for both Forecast International and Military Periscope.
Carter Palmer has long held a keen interest in military matters and aviation. As a FI's space systems analyst he is responsible for updating the reports and analyses within the Space Systems Forecast – Launch Vehicles & Manned Platforms and Space Systems Forecast – Satellites & Spacecraft products.
