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  • Friday, November 22, 2024

Report: Private Equity Group Inches Closer to $3.4B Inmarsat Acquisition


Jeff Brody

A consortium led by private-equity firms Warburg Pincus and Apax Partners is close to finalizing the purchase of global satellite communications company Inmarsat for approximately $3.4 billion after U.K. regulators found that the deal would not hurt competition or impact national security, Bloomberg reported Wednesday.

Connect Bidco, which includes Canada Pension Plan Investment Board and Ontario Teachers™ Pension Plan, aims to close the transaction in the fourth quarter. The buyout group vowed to allow Inmarsat to continue operations in the U.K. over the next few years as well as research-and-development activities in compliance with the country™s laws.

Inmarsat works with the British government to secure borders and the satellite operator also provides communications support to military customers.

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