SES to buy Intelsat for $3.1 billion
Two of the world’s largest and oldest satellite companies of merging. The Luxembourg satellite company SES today announced that it is buying outright the American-based satellite company Intelsat for $3.1 billion in cash.
The companies announced April 30 that they had agreed on the deal, subject to regulatory approvals. SES will pay $3.1 billion in cash along with certain contingent value rights for 100% of Intelsat. The transaction is not expected to close until the second half of 2025.
SES said it will fund the deal through existing cash on hand, which it estimates to be $2.6 billion at the end of March, along with debt. The combined company would have about $4.1 billion in annual revenues and estimated adjusted earnings before interest, taxes, depreciation and amortization of $1.9 billion this year. The combined company will remain headquartered in Luxembourg, where SES is based, but will maintain a “significant presence” at Intelsat’s home in the Washington, D.C., area.
These companies had tried to put together a merger deal in early 2023 but those negotiations failed.
This merger continues the consolidation of the older satellite companies that have for decades been focused on building larger high-orbit geosynchronous satellites and are now feeling great competitive pressure from the low-orbit constellations of Starlink and OneWeb.
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 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
Two of the world’s largest and oldest satellite companies of merging. The Luxembourg satellite company SES today announced that it is buying outright the American-based satellite company Intelsat for $3.1 billion in cash.
The companies announced April 30 that they had agreed on the deal, subject to regulatory approvals. SES will pay $3.1 billion in cash along with certain contingent value rights for 100% of Intelsat. The transaction is not expected to close until the second half of 2025.
SES said it will fund the deal through existing cash on hand, which it estimates to be $2.6 billion at the end of March, along with debt. The combined company would have about $4.1 billion in annual revenues and estimated adjusted earnings before interest, taxes, depreciation and amortization of $1.9 billion this year. The combined company will remain headquartered in Luxembourg, where SES is based, but will maintain a “significant presence” at Intelsat’s home in the Washington, D.C., area.
These companies had tried to put together a merger deal in early 2023 but those negotiations failed.
This merger continues the consolidation of the older satellite companies that have for decades been focused on building larger high-orbit geosynchronous satellites and are now feeling great competitive pressure from the low-orbit constellations of Starlink and OneWeb.
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 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
So we once again allow a major American company to be brought under the control of a foreign government. Sigh.
$3.1B doesn’t sound like a lot