Finance

Scandinavian hybrid satellite router and broadband solution provider Forsway is expanding its operations in North America and opening a sales office in Dallas, Texas, the company announced April 11. Forsway said the new office would help accelerate new business and growth opportunities in North America, Forsway’s U.S. Regional Manager Faith Wright will lead its new...

NSR’s Wireless Backhaul and 5G via Satellite 13th Edition report forecasts over $32 billion in revenue by 2028, with 5G supporting a third of the overall satellite backhaul market. According to the report, Mobile Wireless Backhaul is the largest opportunity in this space, as satcom becomes a mainstream solution and 5G opens opportunities for satellite...

Intelsat confirmed that it is experiencing a service outage on its Intelsat 29e satellite. The operator said the satellite’s propulsion system was damaged late on Sunday, April 7. The damage caused a leak of its propellant on board the satellite resulting in a service disruption to customers. Two days later, while Intelsat was working to restore...

The space robotics market is predicted to hike from $2 billion in 2018 to around $3.5 billion by 2025, according to a 2019 Global Market Insights report. According to the report, the market is experiencing rapid technical development owing to the integration of Artificial Intelligence (AI) technologies into systems developed for space exploration. Several companies...

Viasat is opening a new headquarters in Montes Urales, Mexico, located in the northwest part of Mexico City. The new facility will provide the satellite operator with a base to launch new connectivity services across Mexico. The opening of a new headquarters follows a year of  steady business for Viasat in Mexico. In April 2018, Viasat...

Eutelsat Communications is set to become a partner of Seraphim Space Camp, the U.K.’s first accelerator for space technology start-ups. Launched by Seraphim Capital, Seraphim Space Camp was created a year ago in London. Eutelsat will join the likes of the European Space Agency (ESA), Rolls-Royce, and Airbus in supporting the third edition of the Seraphim...

Singapore Technologies Engineering (ST Engineering) revealed that its subsidiary, Singapore Technologies Engineering (Europe), entered into a conditional share purchase agreement to acquire a 100 percent ownership in Newtec. The consideration of $281.3 million (250 million euros) on a cash-free and debt-free basis for the proposed acquisition, subject to closing adjustments, is payable in cash. The proposed...

A consortium comprised of U.S. U.K., and Canada-based private equity companies agreed to buy Inmarsat for $3.4 billion. The consortium, made up of Apax Partners, Warburg Pincus International, and Canada Pension Plan Investment Board (CPPIB), disclosed the proposal for the takeover last week, although it was made on Jan. 31. Lansdowne Partners, which currently owns 11.4 percent...

Tarana Wireless secured $60 million of financing with Khosla Ventures and EchoStar, as a follow-on to financing of $28 million led by 1010 Holdings, the family offices of Greg Wyler. In conjunction with the financing, EchoStar Chairman Charlie Ergen, Khosla Ventures Partner Samir Kaul, and OneWeb Chairman Greg Wyler joined Tarana’s board of directors. Additionally,...

Another set of companies has submitted a proposal in an attempt to acquire Inmarsat. It was confirmed late last night that Inmarsat has received a non-binding proposal from Apax Partners, Warburg Pincus International, and Canada Pension Plan Investment Board (CPPIB) regarding a possible cash offer of $7.21 per Inmarsat share for the entire issued, and to...