Iridium Enters Agreement To Acquire Satelles; To Pay About $115M For Remaining ~80% Stake In Satelles
Iridium Enters Agreement To Acquire Satelles; To Pay About $115M For Remaining ~80% Stake In Satelles
Satellite Time and Locationwill become a new business line of Iridium, led by Satelles CEO, Dr. Michael O'Connor who will report to Iridium CEO, Matt Desch. Iridium is assuming all rights to the Satelles patent portfolio and anticipates the Iridium STL line of business will generate over $100 million in service revenue per year, by 2030, and additional revenue from equipment and engineering. As long-standing investor in Satelles, Iridium had an ownership stake of around 20 percent from three previous investments in the company. For the remaining approximately 80 percent, Iridium will pay about $115 million, net of cash remaining in the Company, which will be financed through a tack-on to its term loan.
卫星时间和位置将成为铱星公司的新业务线，由卫星首席执行官迈克尔·奥康纳博士领导，他将向铱星首席执行官马特·德施汇报。Iridium接管了Satelles专利组合的所有权利，并预计到2030年，Iridium STL的业务范围每年将产生超过1亿美元的服务收入，并通过设备和工程获得额外的收入。作为Satelles的长期投资者，Iridium在之前对该公司的三次投资中持有约20％的所有权。对于剩余的大约80％，Iridium将支付约1.15亿美元，其中扣除公司剩余的现金，这笔资金将通过定期贷款的附加资金提供。