Mitsubishi Electric, a Japanese multinational electronics and electrical equipment company, has acquired a stake in Zenno Astronautics, a New Zealand-based company. The news was reported by AK&M News, a reputable news source. The exact percentage of stake acquired by Mitsubishi Electric is not disclosed, but it highlights the company’s interest in expanding its presence in the global space sector.
Zenno Astronautics is a privately held company specializing in the design, development, and manufacturing of satellite communications, electronics, and aerospace components. The acquisition is expected to enhance Mitsubishi Electric’s capabilities in the space and defense industries, particularly in the fields of satellite technology and component manufacturing.
Mitsubishi Electric’s strategic investment in Zenno Astronautics marks a significant milestone in the company’s efforts to strengthen its global presence and further solidify its position as a leading player in the electronics and electrical equipment industry. The deal is also likely to create new opportunities for collaboration and innovation between the two companies, enabling them to capitalize on the growing demand for satellite-based solutions and services.