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Stratos Steps Closer To Xantic Acquisition
Bethesda MD (SPX) Jan 5, 2006 Stratos 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. Terms of the agreement are consistent with previously disclosed information. As previously reported, the transaction has also received all necessary clearances from competitive authorities in Australia and Norway. The acquisition of Xantic is expected to close in late January or early February 2006. "With the consent of the Works' Council and the signing of a definitive agreement, Stratos' acquisition of Xantic remains on track to close in early 2006," said Jim Parm, Stratos' president and chief executive officer. "This transaction is an important milestone for Stratos that will allow us to further solidify our position as the leading global provider of essential satellite-based solutions for telecommunications and emergency response." The acquisition of Xantic by Stratos will create the world's leading provider of advanced mobile satellite solutions, with a significantly expanded geographic presence and customer base in the Americas, Europe and the Asia-Pacific region, and an unmatched presence in the key markets for mobile satellite services. The transaction will be financed through the combination of a Term B loan and high-yield notes. Community Email This Article Comment On This Article Related Links Stratos Global SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Squeezing Ukraine In Space
Moscow (UPI) Dec 18, 2005Despite political differences, Russia and Ukraine used to play on the same "space" field in pre-"Orange Revolution" times. Today the situation is radically altered and the Ukrainian space industry risks stagnating and losing its positions as the space component of the national economy. |
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