Thrane & Thrane has sold its German-based European Satellite Link (ESL) subsidiary, the company announced August 14, in a deal which is expected to close later this month. After a negotiation process with a number of interested parties, Thrane & Thrane sold ESL to ESL Holding Aps, a company represented by two former Thrane & Thrane employees, Nikolaj Hvegholm, director of partner communication & marketing, and Henrik Christensen, director of market management.

Thrane & Thrane had acquired ESL as part of the deal when it acquired Nera SatCom in October last year. After the acquisition, Thrane & Thrane investigated whether ESL would fit in with its overall strategy, and decided that ESL “could not profitably be integrated” into the company.