Airbus, Leonardo, and Thales have signed a memorandum of understanding aimed at combining their respective space activities into a new company. The company could be operational by 2027, pending regulatory approval and satisfaction of other closing conditions, the companies said. According to a press release, the to-be-developed company will pool, build, and develop a comprehensive portfolio of complementary technologies and end-to-end solutions, from space infrastructure to services, excluding space launchers. It will accelerate innovation in this strategic market, to create a unified, integrated and resilient European space player, with the critical mass to compete globally and grow on the export markets. Upon conclusion of the transaction, the company will encompass multiple contributions. Airbus will contribute with its Space Systems and Space Digital businesses, coming from Airbus Defence and Space; Leonardo will contribute with its Space Division, including its shares in Telespazio and Thales Alenia Space; and Thales will mainly contribute with its shares in Thales Alenia Space, Telespazio, and Thales SESO. The companies believe that the move to strengthen Europe’s strategic autonomy in space builds position in a major sector that underpins critical infrastructure and services related to telecommunications, global navigation, earth observation, science, exploration and national security. This new company also intends to serve as the trusted partner for developing and implementing national sovereign space programs. Airbus, Leonardo, and Thales, respectively, will own 35%, 32.5%, and 32.5% stakes in the company. It will operate under joint control, with a balanced governance structure among shareholders.