Bidco Consortium Completes $3.3B Inmarsat Buyout

Jeff Brody

A buyout group comprised of Apax Partners, Warburg Pincus and two Canadian pension funds has completed the acquisition of global satellite communications company Inmarsat in an approximately $3.3B deal, SpaceNews reported Thursday.

The report said Inmarsat ceased trading on the London Stock Exchange Thursday, two days after the High Court of Justice  in  England and Wales cleared Connect Bidco's acquisition of the British satcom provider.

Inmarsat — which earned $327.3M in third-quarter revenue — has a government arm that offers mobile satcom services to the U.S. defense, civilian, homeland security, intelligence and public safety sectors.

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