infoTECH News

[November 24, 2009]

Inmarsat to acquire business and assets of Segovia

Nov 24, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- Inmarsat Plc has agreed to acquire the assets of Segovia, Inc., a US-based provider of secure internet protocol managed solutions and services.

Inmarsat is a UK-based provider of global mobile satellite communications services.

Under the agreement, Inmarsat will pay an initial consideration of $110 million and may pay additional amounts depending on future performance over the next three years. The transaction is expected to close in early 2010.

RBC Daniels, LP and Lazard, Ltd. are acting as financial advisors to Inmarsat and Segovia, respectively, on the transaction.

Deal Value (US$ Million) 110 Deal Type Acquisition Sub-Category Asset Purchase Deal Status Announced: 2009-11-23 Deal Participants Target (Company) Segovia, Inc. - Business and Assets Acquirer (Company) Inmarsat Plc Vendor (Company) Segovia, Inc.

Deal Rationale With the addition of Segovia's secure global communications infrastructure and qualified and security cleared staff, Inmarsat will further strengthen its relationships with key government customers across land, maritime and aeronautical environments, and bring enhanced services to the government sector generally.

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