Hanwha Systems announced on June 8 that it has acquired the business and assets of British satellite communication antenna technology venture Phasor Solutions Ltd. on June 5.
Phasor Solutions is a company specializing in research and development of satellite communication antennas established in the UK in 2005. Leading the Electronically Beam Steerable Antenna (ESA) system that enables high-speed communication within sea, land and aircraft, the company has focused on developing the design of next-generation satellite communication antenna based on semiconductors.
The Phasor Solutions' antenna, which features flat-panel design, boasts high performance with state-of-the-art technology concentrated. Semiconductor chip design technology for antenna beam steering and antenna transmission and reception control, which is independently owned by Phasor Solutions, is also a leading technology in the industry.
With the acquisition, Hanwha Systems will secure experts in Phasor Solutions and original technologies, including tangible assets such as technical data, intellectual property rights, and test equipment.
Hanwha Systems has been considering investing in satellite communication antenna business since last year, focusing on finding new businesses that will lead the company's future growth.
In the aftermath of COVID-19, Phasor Solutions went through a bankruptcy process due to financial difficulties, and Hanwha Systems actively took over it.
Hanwha Systems, which specializes in multi-function radar with the nation's top technology, is planning to enter the satellite communication antenna business sector, which is highly linked to the existing communication and radar technology. It plans to secure the original technology for low-orbit satellite antennas and strengthen its aerospace system capabilities.
"Although we are facing a difficult time in the aftermath of the COVID-19, we decided to make a surprise investment in the judgment that it is a future strategic market with high potential for growth," said Kim Yeon-chul, CEO of Hanwha Systems. "We will further expand our existing high-tech communication, sensor, and ICT capabilities based on satellite communication antenna technology to a new level of corporate value and competitiveness."
Hanwha System plans to find new businesses for sustainable growth and accelerate its entry into the global market. It announced its entry into the air taxi market in July last year and started joint development of air taxi "Butterfly" through the opening ceremony of Overair, Inc. in February this year. Through this acquisition, the company will expand its future business to include global satellite communication business.
