Inmarsat, a provider of global mobile satellite communications services, has acquired Globe Wireless of Palm Bay, Fla., for $45 million, according to a company statement. Globe Wireless provides maritime communications services.
The acquisition gives Inmarsat access to an engineering team that will expand Inmarsat’s installation capabilities and enable a faster roll-out of XpressLink (XL) and Global Xpress (GX) to the maritime market; a portfolio of services to move the company beyond connectivity to offer solutions and managed services to the maritime market; the opportunity to offer Globe Wireless services to its clients, enabling more average-revenue-per-user growth; and operational synergies expected to deliver a profit in the first year.
“Adding the Globe Wireless team will immediately bring material benefits, enabling a faster roll-out of XL, FleetBroadband and transition to GX in due course,” said Inmarsat CEO Rupert Pearce in a statement. “This is a transaction that both accelerates our longer term strategic aims and can deliver meaningful contribution in the short term.”
Closing of the deal is subject to certain regulatory and other approvals, which are expected to be completed this month.