Nexeya’s Hemeria platform. Credit: Nexeya

PARIS — French diversified mission-management solutions provider Nexeya, which is the planned prime contractor for the 20-satellite Kineis M2M/IoT constellation, is selling most of its non-space business to focus on its cubesat product line.

In a clear signal of Nexeya’s belief in the smallsat market — despite what industry officials said is the continued difficulty of Nexeya to close its financial round of 100 million euros ($114 million) — Nexeya has agreed to sell its transport and energy business to sensor-solutions provider Hensoldt.

The terms of the transaction, which is expected to clear regulatory approvals by September, were not disclosed. Hensoldt said it is acquiring assets that generated 95 million euros in revenue in 2018 and employed 620 people.

Nexeya said its space division and those piece of its defense work that is remaining with the company reported 2018 revenue of 36 million euros with a staff of 200 people. The company will be renamed Hemeria, after Nexeya’s cubesat product.

“Rapid growth in these [revenue]numbers is expected over the next three years,” Nexeya said in a statement April 12. “This growth will be driven in particular by multiple projects related to orbiting nano or micro satellites. Hemeria’s offer — nano satellites and subsets of larger satellites — will allow it to take full advantage of the opportunities generated by “New Space.”

Nexeya’s first full satellite, called Angels, is under development with the French space agency, CNES, and expected to launch later this year.

Angels is a next-generation Argos asset-tracking satellite and will be integrated into the business of established maritime asset-tracking company CLS. CLS, which is partly owned by CNES, is managing the Kineis project:

Franco-Italian satellite prime contractor Thales Alenia Space is also involved with Kineis and views the project and Nexeya as a spearhead of a French New Space sector. But for the moment Thales Alenia Space is not an investor in Kineis.

“We are very pleased with the dynamic of our strategic refocusing,” Nexeya Chief Executive Philippe Gautier, Chairman Jean-Yves Riviere and Managing Director Jerome Giraud said in a joint statement.

“It will allow us… to accelerate the development of the French nano satellite sector that we are building with the involvement of all our partners, and to underpin our other activities with a developing European group, whose values and objectives we share.”