Inmarsat plc the world’s leading provider of global mobile satellite communications services, today announces it has completed the acquisition of Ship Equip International A.S. (“Ship Equip”) for a total consideration of USD 159.5 million.
Based in Ålesund, Norway, Ship Equip is a leading provider of VSAT maritime communications services to the shipping, offshore oil & gas and fishing markets.
As previously disclosed Ship Equip is to be acquired by Inmarsat Solutions Limited and will operate as a separate subsidiary alongside our Stratos and Segovia businesses.
About Inmarsat
Inmarsat plc is the leading provider of global mobile satellite communications services. Since 1979, Inmarsat has been providing reliable voice and high-speed data communications to governments, enterprises and other organizations, with a range of services that can be used on land, at sea or in the air. The company’s services are delivered through a global network of more than 400 distribution partners and service providers operating in 100 countries. For the year ended 31 December 2010, Inmarsat plc had total revenue of US$1,172 million (2009: US$1,038 million) with an EBITDA of US$696 million (2009: US$594 million).
About Ship Equip:
The Ship Equip Group is the leading provider of VSAT-based maritime communications services worldwide. The C-band and Ku-band solution SEVSAT together with TVRO from Ship Equip give ships world-wide cost efficient solutions for internet, telephony and television. Ship Equip has installed more than 2,500 stabilized antennas all over the world, and has extensive experience in supporting the equipment in demanding maritime conditions.
The head office is situated in Ålesund, Norway, with offices in Athens, Cologne, Dubai, Houston, Oslo, Reykjavik, Rotterdam, Shanghai and Singapore.
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Source:ShipEquip , April 28, 2011