Author: Jane Edwards|| Date Published: January 25, 2022
Network Innovations has acquired STS Global, a Stony Brook, New York-based satellite communications company, for an undisclosed sum as part of efforts to accelerate the development and delivery of customized connectivity platforms and communications services to government, enterprise, media and other markets.
“This acquisition offers great potential in the markets we serve and I’m confident that STS Global will find benefits from the additional capabilities and resources NI can offer,” Derek Dawson, president of Network Innovations, said in a statement published Monday.
The transaction will enable Network Innovations to gain access to STS Global’s integration and engineering design capabilities and strengthen partnerships. STS CEO David Hershberg and the company’s current management team will join Network Innovations as a result of the acquisition.
Hermes Capital Advisors, a division of Arcadia Securities, served as STS Global’s financial adviser in the deal.
Founded in 1989, Network Innovations has been providing cellular services, data connectivity, managed network services and other telecommunications services to customers in government, defense, public safety, media, oil and gas, maritime, utilities and recreation markets.
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