Two satellite communications giants team up to create something unique in the industry
Luxembourg satellite operator SES announced the acquisition of Intelsat. Thus, the $3.1 billion deal will unite the two largest commercial operators of geostationary communications satellites.
The merger of SES and Intelsat is designed to strengthen the companies' competitive positions in the rapidly changing satellite communications industry, expand the space network, frequency spectrum, and ground infrastructure of the combined company around the world.
“The most important thing was the desire of both companies to create something unique. We have the opportunity to provide valuable services to our existing customers and the market,” SES Chief Executive Adel Al-Saleh said.
The combined company will retain SES's headquarters in Luxembourg but will also have an office in Washington, where Intelsat is based.
The combined company is expected to have annual revenues of approximately $4.1 billion.
SES and Intelsat have been in talks about a potential tie-up since 2022, seeing real value in it.
“By combining our financial strength and world-class team with the SES team, we are creating a more competitive, growth-oriented solutions provider to the industry,” Intelsat CEO David Weissgrass commented.
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