| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: MOBILE TELECOMMUNICATIONS |
Inmarsat buys US military communications firm |
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Mon 23 Nov 2009
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LONDON (SHARECAST) - Satellite operator Inmarsat has bought Segovia, which provides secure Internet protocol managed solutions and services to the US military and government agencies.
The UK-listed company is paying $110m for the Virginia-based group, although there’s the possibility of more cash depending on future performance over the next three years.
Segovia specializes in designing, deploying and operating mixed satellite and terrestrial networks for the military.
"Segovia is ideally positioned to support the US DoD's requirements to deploy secure networks rapidly using combinations of satellite and terrestrial facilities wherever in the world they are required,” said Inmarsat chairman Andrew Sukawaty.
“With Segovia's secure global communications infrastructure and its highly qualified and security cleared staff, we will further strengthen our relationships with key government customers across land, maritime and aeronautical environments, and bring enhanced services to the government sector generally."
In 2008, the American outfit reported total revenue of $67m and net income of $18m.
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