The monetary value of the transaction was not disclosed.

The new entity will be 49 percent owned by Thales and 51 percent by Aerostrong Technology Company, a subsidiary of China Spacesat.

AeroThales will provide satellite positioning services that will enable the management by satellite of vehicle fleets and the detection of stolen cars, Thales said.

Such services will be provided to institutions such as the post office, the fire department, oil companies and car-rental firms.

SPACE.WIRE