UK Satellite Internet Engineer Filtronic Gets SpaceX Boost

Filtronic Plc soared in London trading after striking a deal with Elon Musk’s Space Exploration Technologies Corp. that gives the UK company’s satellite internet technology a high-profile seal of approval.

Filtronic awarded SpaceX the option to take a stake of up to 10% alongside a $19.7 million contract to supply modules for use in the US company’s Starlink constellations, according to a statement on Wednesday. Its shares rose more than 50%, the most on record.