NEW YORK | LOS ANGELES | GENEVA | December 19th, 2013 – Redwood Capital announced today that Globe Wireless, the leading global provider of total solutions in the field of communications, operational and IT solutions to the maritime industry, has agreed to be acquired by Inmarsat plc (LSE:ISAT.L), the leading provider of global mobile satellite communications services, for $45,000,000. Closing of the transaction is subject to certain regulatory and other approvals, which are expected to be completed in January 2014.
“This is a highly compelling transaction for Inmarsat,” said Inmarsat CEO Rupert Pearce. “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. We are also acquiring a skilled and established solutions development team that has been responsible for a market-leading portfolio of value added services.”
“Accessing this portfolio offers a truly exciting cross-selling opportunity for our channel partners and ourselves, across the entire Inmarsat installed maritime base,” added Pearce. “This is a transaction that both accelerates our longer term strategic aims and can deliver meaningful contribution in the short term.”
About Globe Wireless
Globe Wireless is the world’s leading provider of total solutions in the field of communications, operational and IT solutions to the maritime industry. The company’s wide selection of satellite services for communications at sea gives customers a single point of contact for managing their fleet’s communication and IT needs. Globe Wireless serves over 550 ship operators with over 8,000 ships using the company’s products and services. Based in Palm Bay, Florida, the company has offices in 13 countries around the world providing technical support in local time zones and languages.
For more information, please visit www.globewireless.com.
Inmarsat plc is the leading provider of global mobile satellite communications services. Since 1979, Inmarsat has been providing reliable voice and high-speed data communications to governments, enterprises and other organizations, with a range of services that can be used on land, at sea or in the air. Inmarsat employs around 1,600 staff in more than 60 locations around the world, with a presence in the major ports and centers of commerce on every continent. Inmarsat is listed on the London Stock Exchange (LSE:ISAT.L).
For more information, please visit www.inmarsat.com.
About Drake Star Partners
Drake Star Partners is a global investment banking firm serving the technology, media and communications sectors (TMC) with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, Geneva, Singapore* and Dubai*. The firm focuses on M&A and corporate finance for its clients worldwide. Drake Star Partners completed over 400 transactions since 2004, 70% of which are cross-border.
Drake Star Partners is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC. In the USA, Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. Drake Star UK Limited (FRN 942020) is an appointed representative of Kession Capital Ltd (FRN582160) which is authorised and regulated by the Financial Conduct Authority. © 2016 Drake Star Partners Limited.