Our Core Satellite & Space index was down -3% in February, underperforming the S&P 500 which saw a loss of -1% and underperforming the MSCI Global (ex.-U.S.) index which saw a gain of +3%.​
Transaction activity was in line compared to the previous month, with eight minority VC/PE equity financings, three M&A transactions, and two public equity financings announced. ​
The largest M&A transaction announced in the month was Indra Group’s acquisition of an 89.7% majority stake in satellite operator Hispasat for consideration of €725M (expected to close in 4Q25). The transaction accelerates Indra’s space-related strategy and expands its reach across Europe. ​