SES to acquire Intelsat
Posted: Sun, May 5, 2024, 6:42 AM ET (1042 GMT)
SES announced Tuesday that it will acquire Intelsat for $3.1 billion, combining two of the biggest GEO satellite operators. The companies said the deal would create a satellite operator with more than $4 billion in annual revenues and adjusted EBITDA of nearly $2 billion. The combined company would operate more than 100 GEO satellites as well as the O3b constellation in medium Earth orbit, and SES said the acquisition would optimize future investments in multi-orbit satellite fleets. SES and Intelsat had explored a merger last year but walked away from a potential deal last June. SES CEO Adel Al-Saleh said the timing was better now for an acquisition given "significant evolution" at both companies. The deal has the approval of both companies' boards, but SES does not expect it to close until the second half of 2025 because of necessary regulatory approvals.
SES announced Tuesday that it will acquire Intelsat for $3.1 billion, combining two of the biggest GEO satellite operators. The companies said the deal would create a satellite operator with more than $4 billion in annual revenues and adjusted EBITDA of nearly $2 billion. The combined company would operate more than 100 GEO satellites as well as the O3b constellation in medium Earth orbit, and SES said the acquisition would optimize future investments in multi-orbit satellite fleets. SES and Intelsat had explored a merger last year but walked away from a potential deal last June. SES CEO Adel Al-Saleh said the timing was better now for an acquisition given "significant evolution" at both companies. The deal has the approval of both companies' boards, but SES does not expect it to close until the second half of 2025 because of necessary regulatory approvals.
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