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Inmarsat accepts private equity bid

March 25, 2019 11.39 Europe/London By Julian Clover

(Wikimedia)

Inmarsat is to become a private company after accepting a $3.4 billion cash bid from a private equity company.

The consortium comprises Apax Partners, Warburg Pincus and Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan Board. Apax is a former owner of the UK satellite communications firm.

Inmarsat had previously rejected a bid from Echostar, which had renewed its interest in the company.

As it now stands, shareholders will receive $7.21 per share, a mark-up of 45 per cent on the closing price on February 27.

Talks to acquire the company began in late January.

Inmarsat has been working on expanding its offer that now includes internet services to aircraft.

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Filed Under: Newsline, Satellite Tagged With: Apax Partners, Inmarsat, Warburg Pincus Edited: 25 March 2019 11:39

About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on Twitter @julianclover, on Facebook or by email at jclover@broadbandtvnews.com.

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