Inmarsat has deal to acquire Ship Equip

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Ship Equip International AS and Inmarsat PLC today announced an agreement for Inmarsat to acquire Ship Equip for 900 million Norwegian kroner, or about $162.9 million.

Inmarsat is a leading provider of global mobile satellite communications services. Ship Equip, based in Ålesund, Norway, is a leading provider of VSAT maritime communications services to the shipping, offshore oil and gas and fishing markets.

Ship Equip will operate as a separate subsidiary alongside Inmarsat's Stratos and Segovia businesses. Closing of the transaction is subject to regulatory approvals that are expected to be completed in a matter of weeks.

Inmarsat expects to finance the transaction from current available liquidity.

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