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  • Friday, November 22, 2024

SES Closes $450M Buy of DRS Global Enterprise Solutions

SES has completed its $450 million acquisition of DRS Global Enterprise Solutions, formerly owned by defense contractor Leonardo DRS.

SES said Monday it will merge the newly acquired business with the company’s government solutions subsidiary in a push to bring multi-orbit satellite communications services to the Department of Defense and other government agencies.

David Fields, former senior vice president of DRS SES, will lead the combined business and succeed Pete Hoene, who is retiring from his position as president and CEO of SES Government Solutions after 11 years of service.

SES GS will operate under the direction of the proxy board of directors chaired by Billy Bingham, a retired U.S. Air Force brigadier general.

The acquisition was approved by the boards of directors of Leonardo DRS and SES in March.

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