[3/20/07] CIP Canada Investment Inc. will acquire Stratos Global Corp., the largest distributor of Inmarsat services, in a deal funded in part by Inmarsat, the companies announced March 19.

The transaction, including the assumption of net debt, is valued at $576 million. Inmarsat will lend CIP Canada, an investment firm focused on satellite companies, $250 million with Inmarsat to hold an option to buy Stratos in 2009.

The move comes 19 months after Stratos closed a $191.3 million acquisition of rival satellite communications company Xantic B.V., giving Stratos a 44 percent share of Inmarsat mobile satellite telecommunications revenue.