SES to acquire rival satellite operator Intelsat for $3.1 billion

European satellite firm SES is set to acquire Virginia-based Intelsat via 100 percent of the equity of Intelsat Holdings S.a.r.l. for a cash consideration of €2.8 billion ($3.1 billion) and certain contingent value rights. The companies said the partnership will create a “stronger multi-orbit operator” with greater coverage, improved resiliency, and an expanded suite of solutions. 

Adel Al-Saleh, CEO of SES, said: “In a fast-moving and competitive satellite communication industry, this transaction expands our multi-orbit space network, spectrum portfolio, ground infrastructure around the world, go-to-market capabilities, managed service solutions, and financial profile. I am excited by the opportunity to bring together our two companies and augment SES’s own knowledge base with the added experience, expertise, and customer focus of the Intelsat colleagues."

David Wajsgras, CEO of Intelsat, added: “Over the past two years, the Intelsat team has executed a remarkable strategic reset. We have reversed a 10-year negative trend to return to growth, established a new and game-changing technology roadmap, and focused on productivity and execution to deliver competitive capabilities. This strategic pivot sets the foundation for Intelsat’s next chapter.”