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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.

Conscious Choice cover

Now available in hardback and paperback as well as ebook!

 

From the press release: In this ground-breaking new history of early America, historian Robert Zimmerman not only exposes the lie behind The New York Times 1619 Project that falsely claims slavery is central to the history of the United States, he also provides profound lessons about the nature of human societies, lessons important for Americans today as well as for all future settlers on Mars and elsewhere in space.

 
Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space, is a riveting page-turning story that documents how slavery slowly became pervasive in the southern British colonies of North America, colonies founded by a people and culture that not only did not allow slavery but in every way were hostile to the practice.  
Conscious Choice does more however. In telling the tragic history of the Virginia colony and the rise of slavery there, Zimmerman lays out the proper path for creating healthy societies in places like the Moon and Mars.

 

“Zimmerman’s ground-breaking history provides every future generation the basic framework for establishing new societies on other worlds. We would be wise to heed what he says.” —Robert Zubrin, founder of founder of the Mars Society.

 

All editions are available at Amazon, Barnes & Noble, and all book vendors, with the ebook priced at $5.99 before discount. The ebook can also be purchased direct from my ebook publisher, ebookit, in which case you don't support the big tech companies and I get a bigger cut much sooner.

 

Autographed printed copies are also available at discount directly from me (hardback $24.95; paperback $14.95; Shipping cost for either: $5.00). Just email me at zimmerman @ nasw dot org.

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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