Luxembourg-based satellite communications company SES has agreed to buy Intelsat for approximately $3.1 billion to create a multiorbit operator that offers an expanded suite of satellite-based capabilities, greater coverage, spectrum portfolio and a ground network to serve customers worldwide.
The boards of directors of SES and Intelsat have unanimously approved the transaction, which is subject to regulatory clearances and other customary closing conditions and is expected to close by the second half of 2025, according to a joint release by the two companies published Tuesday.
The new entity that will emerge from the proposed combination will have a fleet of more than 100 geostationary Earth orbit satellites and 26 medium Earth orbit spacecraft providing improved network resiliency and increased coverage to customers across government, fixed data, mobility and media segments.
Intelsat CEO Dave Wajsgras called the deal a “strategic pivot,” saying the move establishes the foundation for the company’s next chapter.
“By combining our financial strength and world-class team with that of SES, we create a more competitive, growth-oriented solutions provider in an industry going through disruptive change. The combined company will be positioned to meet customers’ needs around the world and exceed their expectations,” added Wajsgras, a seven-time Wash100 awardee.
SES will acquire 100 percent of Intelsat’s equity and fund the transaction using existing cash and equivalents and new debt issuance, including hybrid bonds. The European company will also release contingent value rights with regard to a part of any potential monetization of the combined collective usage rights for up to 100 megahertz of the C-band spectrum.
The combined entity will continue to be based in Luxembourg and maintain key presence in the U.S., particularly in the Washington, D.C. area.
