Airbus Group Signs Share Purchase Agreement for its Commercial Sat-Com Business
Airbus Group SE (NYSE: AIR) has signed with French private equity firm, Apax Partners, a share purchase agreement (SPA) for the sale of 100% of the share capital of the legal entities comprising the commercial satellite communication business. The final closing of the transaction – subject to regulatory approvals – is expected to take place in the next months.
Airbus Defense and Space announced in September of 2014 that a detailed and comprehensive portfolio assessment had defined Military Aircraft, Space, Missiles and related Systems and Services as its future core businesses. As the Commercial Satcom business did not fit those strategic goals, the decision was taken to transfer the activities to a new owner who could provide better focus and drive additional growth.
The maritime and land commercial satcom business is present in 14 countries across Europe, Asia, Middle-East and Americas, and has a distribution network of approximately 400 re-sellers worldwide. It serves all maritime sectors in the world and thousands of users operating in challenging environments in the mining, energy and humanitarian sectors that needs highly reliable satcom mobile and fixed connectivity services.
The government satcom business is not part of this transaction and remains part of Airbus Defense and Space’s core activities. After more than ten years, the company has built a leading position in the government market with a large portfolio of communication solutions and services based on both military and commercial satellites.
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