3rd Jan 2014 09:41
LONDON (Alliance News) - Inmarsat PLC said Friday it has completed its acquisition of Globe Wireless LLC, after completing regulatory approvals in relation to the USD45 million deal.
The mobile satellite communications services group said that the acquisition will enable it to significantly expand its installation capabilities, as well as deliver a material improvement in profitability within the first year.
Globe Wireless is a Florida-based provider of value-added maritime communications services to the shipping market.
Inmarsat said that, following the latest approvals, the acquisition is now complete.
Inmarsat shares were trading up 0.67% at 756 pence per share Friday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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