 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
SES Global Makes Strategic Investment In Orbcomm
Luxembourg - Feb 25, 2004 SES Global S.A., the world's premier satellite operator, has announced that it had acquired a 9% ownership stake in Orbcomm Inc., a US-based provider of global satellite data services to industrial, military and commercial clients. While the financial terms of the transaction remain confidential, SES will join the Orbcomm Board of Directors, provide strategic guidance, and, potentially, assist Orbcomm in the further development and operation of the existing low earth orbit (LEO) satellite telecommunications network and develop certain applications and services associated with SES's own business. SES Global's investment is part of a new $26.000.000 equity financing by Orbcomm. Other investors include OHB Technology A.G. ("OHB"), a leading European space technology company and part of the Fuchs-Gruppe, and a group of financial investors. Robert Bednarek, Executive Vice President of Corporate Development at SES Global, observes: "Orbcomm provides SES a unique opportunity to participate in the growing market for global, satellite-based fixed and mobile data services. Orbcomm's well- developed, low cost terminal equipment and service offerings fill the needs of many enterprise and government customers we do business with today. We believe that SES's expertise in satellite infrastructure and operations can accelerate Orbcomm's growth." "Securing funding from SES, OHB and our other investors will increase the impact that Orbcomm will have in its markets and with its global customers," said Don Franco, co-CEO of Orbcomm. "The support of our strategic investors endorses our business model and cements our position as the leader in this emerging industry." Community Email This Article Comment On This Article Related Links Orbcomm SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Stratos Steps Closer To Xantic Acquisition
Bethesda MD (SPX) Jan 5, 2006Stratos Global recently announced it had taken a step closer toward the completion of the acquisition of Xantic, having received positive advice from the Works' Council in the Netherlands, and executed a definitive agreement to purchase Xantic from KPN and Telstra Corporation. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
