SkyWave to acquire assets relating to GlobalWave SLDR products and services business from TransCore
Inmarsat, a UK-based provider of mobile satellite communications services, has announced a strategic investment, long term global distribution agreement and new product development agreement with SkyWave Mobile Communications of Canada.
Concurrent with this investment, SkyWave will acquire assets relating to the GlobalWave satellite low data rate (SLDR) products and services business from TransCore and will enter into a sales distribution relationship with TransCore focusing on the North American trucking and rail segments of the SLDR market, designed to leverage TransCore’s substantial presence in those segments.
Under the agreements, Inmarsat will, subject to SkyWave’s acquisition of the GlobalWave assets, acquire a stake of approximately 19% in the privately held SkyWave. In addition, Inmarsat and SkyWave will enter into a direct distribution agreement for the supply of satellite capacity to SkyWave on a global basis.
SkyWave’s acquisition of the GlobalWave assets is subject to certain regulatory approvals which are expected to be granted by mid 2009.
Perry Melton, COO of Inmarsat, said: We are investing in Skywave because we see the strong potential from the combined SkyWave and GlobalWave technical leadership in the SLDR market. This investment and partnership with SkyWave fits our strategic commitment to pursue opportunities that leverage our satellite network assets.