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SES ASTRA Increases Shareholding In ND Satcom To 100 percent
Chateau de Betzdorf, Luxembourg (SPX) May 26, 2006 SES ASTRA, an SES GLOBAL company, has announced today that it raises its stake in the satellite communications supplier ND SatCom from 25.1 to 100 per cent by acquiring the 74.9 per cent share from the German-based high-tech group AUGUSTA Technologie AG. SES ASTRA acquires the majority stake for a consideration of EUR 35.6 million. The transaction is subject to the necessary regulatory approvals. The purchase agreement also foresees a contingent additional consideration dependent on the award and value of a significant government contract opportunity. This additional consideration cannot exceed approximately 36 per cent of the definitive purchase price of EUR 35.6 million. ND SatCom is a leading global supplier of satellite-based broadband network solutions for government customers, broadcasters and enterprises. It is based in Friedrichshafen, Germany, employs 240 people globally, has major regional centers in Abu Dhabi, Beijing and Dallas, Texas, and conducts business in over 130 countries. In 2005, it generated revenues of EUR 80 million of which approximately 70 per cent derived from the government sector. Enhancing the government services offering is a key strategic objective of SES”, said Ferdinand Kayser, President and Chief Executive Officer (CEO) of SES ASTRA. The acquisition of ND SatCom allows SES ASTRA to enter the fast growing government sector. As a leader in this sector, ND SatCom is very well positioned and rapidly grows its presence, mainly in the EMEA region, complementing the strong position of Americom Government Services (AGS) in North America. Through this transaction, we will provide a combined ground and space offering to the government sector and take advantage of the growth potential for our core infrastructure business, in particular the recently acquired New Skies assets.” The acquisition of ND SatCom by SES ASTRA is a perfect strategic fit for both parties and will provide us with additional development opportunities”, said Karl Classen, CEO of ND SatCom. SES ASTRA has been a strategic investor in ND SatCom for many years and supported the development of the company into a leading international player. ND SatCom will represent a key element in SES ASTRA`s ambitions to increase its presence in the government sector and reinforce SES group`s global government activities.” Community Email This Article Comment On This Article Related Links SES ASTRA The latest information about the Commercial Satellite Industry
MSV Accelerates Telecom Satellite Program
Reston VA (SPX) May 25, 2006Mobile Satellite Ventures and its joint venture partner MSV Canada announced Wednesday they had reached an agreement with Boeing to accelerate deployment of their two North American satellites, intended to form the backbone of MSV's satellite cellular-wireless communications network. |
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