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Inmarsat bought out and delisted from stock exchange

Capitalism in space: The long established communications satellite company Inmarsat has been bought out by a consortium called Connect Bidco and delisted from stock exchange.

Nor is Inmarsat alone:

Inmarsat is the third satellite operator to delist from public markets this year, following Hong Kong-based AsiaSat and London-based Avanti in September.

Inmarsat reported a loss of $89.1 million on $1.06 billion in revenue for the first nine months of the year. The company claimed $36.1 million in profits on $327.3 million in revenue for the months of July, August and September — it’s last public quarter before the buyout.

This story and the quote above explain what is happening. Established satellite companies, that traditionally have built big geosynchronous satellites, are having increased trouble making money as the industry shifts to smaller satellite and constellations in low Earth orbit.

Genesis cover

On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.

 

The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.


The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
 

"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News

4 comments

  • Diane Wilson

    The question that’s not answered is why Connect Bidco would want to buy Inmarsat. What’s their benefit in this?

  • Jay

    I have been following the small sats for amateur radio and I know SpaceX’s plans for using small sats for internet access. When HF radio is not used, on remote places like islands or vessels or just in the wilderness, I see Inmarsat satellite phones used. Does anyone know of a small sat company that wants to do satellite phone service?

    To Diane’s question,
    Reading about Bidco, they are just a an investment company. Are they just looking for a company to make their portfolio look diverse? Looks like they picked up Inmarsat up cheap. I hope they are not one of those investment firms that buy tech companies, strip it by selling off divisions and intellectual properties over time.

  • wayne

    “On 25 March 2019, Inmarsat plc announced it had agreed with Connect Bidco Ltd, a private equity-led consortium, the terms of a recommended cash acquisition of the entire issued share capital of Inmarsat plc. Subsequently, on 10 May 2019, the Inmarsat shareholders agreed to the potential takeover. The consortium is a Joint Venture owned in equal shares by four large financial investment groups: Apax (part of a group which took Inmarsat private in 2003 and publicly floated it in 2005), Warburg Pincus, Canada Pension Plan Investment Board (CPPIB), and the Ontario Teachers’ Pension Plan Board (OTPPB).”

    https://www.gov.uk/government/publications/proposed-acquisition-of-inmarsat-plc-by-connect-bidco-ltd-public-interest-intervention

  • wayne

    “UK Government Accepts Connect Bidco’s Offer of Voluntary Undertakings in Relation to Inmarsat’s UK-Based Operations”

    https://www.gov.uk/government/publications/uk-government-accepts-connect-bidcos-offer-of-voluntary-undertakings-in-relation-to-inmarsats-uk-based-operations

    PDF at the link

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