Author: Naomi Cooper|| Date Published: March 23, 2022
Global satellite operator SES has signed a $450 million deal to acquire a Leonardo DRS business unit that offers satellite communications and security services to the federal government.
The boards of directors of the two companies have approved the terms of the agreement for the DRS Global Enterprise Solutions business and both parties expect to complete the transaction in the second half of 2022, according to a joint statement released Tuesday.
DRS GES will operate under SES’ government solutions subsidiary, which provides satcom support to U.S. military customers, upon the deal’s closure.
Pete Hoene, president and CEO of SES Government Solutions, said the combination seeks to help the Department of Defense address connectivity and communications requirements and to position the combined entity to provide multiorbit satellite networking services to the sector.
SES operates a constellation of geosynchronous and medium Earth orbit satellites that offers a hybrid communications network to commercial and government customers.
William Lynn, CEO of Leonardo DRS, said the GES divestiture move aligns with the company’s broader effort to focus on its core capabilities and pursue larger market opportunities.
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