GMV has experienced strong organic growth in 2007. GMV saw a 17 percent increase in overall revenue, up to $106 million. Space and defense is the largest business area in the company.

This area makes up about 62 percent of the company's revenues and saw a significant revenue increase between 2006 and 2007. Total revenue for space and defense was $77 million U.S. dollars.

Most of GMV's growth was organic, however the firm did complete one space-related acquisition in 2007. GMV was a majority-shareholder in SkySoft S.A. in Portugal and bought out the remaining owners for 100 percent ownership.

"GMV is growing at a significantly higher than expected rate, and profits are up considerably," said Luis Mayo, CEO of GMV.

"What is particularly notable about 2007 is that we were able to continue our strong track record of robust growth as shown over the last decade. As we look toward the future, GMV will increasingly be looking for potential partners or acquisitions so that we can add to our array of products and services."

GMV specializes in the supply, development and integration of engineering systems for the aerospace, defense, security, healthcare, transport, telematics and telecommunications sectors. In Space, GMV is a leading supplier of satellite ground system software for agencies, operators, manufacturers and integrators around the world.

The key reasons for the company's worldwide success include the European satellite navigation program, GMV's leading technology for satellite ground control systems, and the expansion of the company's North American division, which is based in Rockville, Maryland.

In 2007, GMV saw significant growth in the commercial space sector with expanded operations around the world.

GMV obtained contracts for 16 geostationary earth orbit satellites (GEOs) as well as a constellation of low earth orbit satellites (LEOs) in the commercial telecommunications sector. GMV also saw significant growth in space applications.

GMV's customers in Aerospace and Defense include Space Agencies on both sides of the Atlantic, 8 of the 10 largest commercial GEO satellite operators in the world, as well as many of the medium and smaller-sized operators around the world.