Telenor in $116.5 million acquisition

Norwegian company Telenor and Lockheed Martin Global Telecommunications (LMGT) have announced that Telenor will acquire LMGT’s COMSAT Mobile Communications operations for US$116.5 million in cash.

Telenor’s purchase of COMSAT Mobile operations is also said to include two earth station facilities in Connecticut and California.

According to a statement linking the two US stations with Telenor’s existing earth station in Norway will enable Telenor to offer global coverage for satellite mobile communication services. Following the transaction, Telenor will be one of the leading Inmarsat global operators.

While the two companies pursue requisite regulatory approvals from the US government, a process expected to be completed over the next several months, COMSAT Mobile will continue to operate as an LMGT business unit.

Once the transaction is complete COMSAT Mobile will become a key part of the satellite mobile division of Telenor Broadband Services AS, operating through its wholly owned US subsidiary, Telenor Satellite Mobile Services.

The acquisition, which is said to position Telenor as a major global satellite mobile operator, is subject to regulatory approvals.

On the web