Link Securities | Following approval by the German Parliament, Indra has signed a contract with the Federal Office of Procurement (BAAINBw) of the German Armed Forces (Bundeswehr) to provide its Air Force, the Luftwaffe, with a state-of-the-art low-orbit object detection radar, the digital portal Bolsamania.com reported yesterday. The system will protect active satellites from possible impact with debris from other missions that orbit uncontrollably at high speed and can damage or disable them. It will also help to protect them by monitoring any attempt by other satellites to approach them in order to compromise their mission or collect information about them. Indra, through its German subsidiary, was invited to participate in this tender, in which it was selected. The contract amount was not made public.
In other news, the newspaper elEconomista.es reports today that the company has temporarily halted the isolated sale of Minsait Payments to include this business in the same package as the future divestments of Minsait, a technology subsidiary in search of a partner. In this way, Indra has temporarily postponed the two divestment processes that were thus far in the spotlight. The new plans are for Payments to continue enriching the technology subsidiary in which it is currently integrated, without any segregation. This will encourage the future entry of a partner into Minsait, with Payments within its perimeter. In addition, this move would make it easier to place a partial or majority stake in the group’s most profitable business.
