SuperyachtNews.com - Business - Satcom merger investigated

By SuperyachtNews

Satcom merger investigated

The $7.3 billion acquisition of Inmarsat by US-based satcoms giant Viasat has been referred to the EU antitrust regulator…

The merger of Inmarsat and US-based telecoms giant Viasat, announced in 2021, has been referred to EU antitrust regulators, with a ruling due on February 13. The transaction was valued at $7.3 Billion, comprising $850.0 million in cash, approximately 46.36 million shares of Viasat common stock valued at $3.1 billion (based on the closing price on Friday, November 5, 2021), and the assumption of $3.4 billion of net debt.

Rick Baldridge, Viasat's president and CEO, said in a statement to the media at the time: "This strategic move gives Viasat the scale to increase the pace of innovation that drives new and better services for our customers, broadens the opportunities for our employees and provides a foundation for significant positive free cash flow, with potential upside from a revitalization of L-band and IoT service growth. Plus, we will have expanded scale and presence in the $1.6 trillion broadband and IoT sectors."

Concern has been raised that the deal is anti-competitive and may lead to a monopoly on mobile connectivity. According to reporting by Reuters, the deal is already under investigation by the UK competition watchdog since late 2022.

 

Profile links

Inmarsat Global

Join the discussion

Satcoms merger investigated

34182

To post comments please Sign in or Register

When commenting please follow our house rules


Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry‚Äôs most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.

Related news

Image for Positive initial reviews for Starlink Maritime

Positive initial reviews for Starlink Maritime

Superyacht M/Y Loon recently tested Elon Musk’s SpaceX Satellite Internet on an Atlantic crossing

Crew

Image for Inmarsat to launch Fleet Safety

Inmarsat to launch Fleet Safety

John Dodd, director of safety services at Inmarsat, hopes to change the way we think about GMDSS

Crew

Image for Inmarsat merges with USA based telecom giant Viasat

Inmarsat merges with USA based telecom giant Viasat

SuperyachtNews speaks with Peter Broadhurst about the importance of scale for success in a competitive sector

Business

Image for Inmarsat Highlights Ground-breaking Technical Innovations

Inmarsat Highlights Ground-breaking Technical Innovations

Inmarsat will showcase key capabilities of the new ORCHESTRA and ELERA services at the Monaco Yacht Show.

Technology

Image for Inmarsat announces Orchestra communications network

Inmarsat announces Orchestra communications network

Ronald Spithout, President of Inmarsat Maritime, joins SuperyachtNews to discuss integration and augmentation

Technology

Sign up to the SuperyachtNews Bulletin

Receive unrivalled market intelligence, weekly headlines and the most relevant and insightful journalism directly to your inbox.

The SuperyachtNews App

Follow us on