Inmarsat acquires Ship Equip for $165 million

Inmarsat, a worldwide provider of mobile satellite communications services, has acquired Ship Equip International, a provider of VSAT maritime communications services to the shipping, offshore oil and gas and commercial fishing markets, for $165 million. Norway-based Ship Equip will operate as a separate subsidiary alongside Inmarsat’s Stratos and Segovia communications businesses. Closing of the transaction is subject to certain regulatory approvals, which were expected to be completed in a matter of weeks. Inmarsat expects to finance the transaction from current available liquidity. UBS acted as sole financial advisor to Ship Equip.

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