[Via Satellite 12-22-2015] Airbus Group has signed a share repurchase agreement with French private equity firm Apax Partners to sell all of the share capital of the legal entities comprising its commercial satellite communications business. The decision marks the culmination of a portfolio assessment Airbus Defence and Space announced in September 2014 that defined military aircraft, space, missiles and related systems and services as the company’s future core businesses. The commercial satcom business did not fit those strategic goals, leading Airbus to transfer the activities to a new owner. The company has decided to keep its government satcom business however, stating in a Dec. 21 press release that after more than 10 years, the company had built a leading position in the government market with a large portfolio of communication solutions and services based on both military and commercial satellites.
Airbus’ 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. The final closing of the transaction is expected to take place in the next months, subject to regulatory approvals.
The post Airbus Group Divests from Commercial Satcom Business, Keeps Government appeared first on Via Satellite.