Nokia to offload Modul8 space communications business venture

NEW DELHI: Finnish telecom gear maker Nokia said it has entered into an agreement with Celestial Acquisition Corp. to spin out Modul8, its space communication solutions venture, into a new, independent company.

Nokia said that if the deal succeeds, it will enable Modul8 to bring breakthrough innovations into real-world innovations for the growing space economy.

The Modul8 venture has been operating within Nokia’s Bell Labs, and played a crucial role in the deployment of a cellular network on the moon last year. This followed work with Axiom Space to develop 4G-enabled spacesuits.