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Inmarsat has deal to acquire Ship Equip

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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