EchoStar (Nasdaq: SATS), the parent company of broadband satellite services provider Hughes Network Systems, has closed its purchase of Dish Network in a transaction that strengthens its position as a global terrestrial and non-terrestrial connectivity provider to government and business customers.
The combined entity will be based in Englewood, Colorado, and will bring to the global marketplace an integrated portfolio of satellite, video distribution and wireless capabilities, including Hughes satellite internet and managed network services, EchoStar said Tuesday.
The all-stock merger agreement between EchoStar and Dish Network was first announced in August.
EchoStar will gain access to Dish Networkâs streaming services, satellite technology and 5G network as it works to accelerate the delivery of content distribution and communication capabilities.
EchoStar subsidiary Hughes launched Jupiter 3, a Maxar Technologies-built ultra-high-density satellite, in July.
âThis merger brings us one step closer to our goal of offering ubiquitous connectivity to people, enterprises and things, everywhere,â said Hamid Akhavan, president and CEO of EchoStar.
Akhavan noted that the combined company will work to deliver connectivity platforms and services that clients demand through its portfolio of technology, engineering, manufacturing, spectrum and network management expertise.
Evercore acted as EchoStarâs exclusive financial adviser and White & Case served as legal counsel to the satellite communications company.
Dish Networkâs exclusive financial adviser and legal counsel in the transaction were J.P. Morgan and Sullivan & Cromwell, respectively.
Cravath, Swaine & Moore and Wachtell, Lipton, Rosen & Katz respectively served as legal advisers to the special committee of the boards of directors of EchoStar and Dish.
