Friday, July 3, 2009

Inmarsat completes investment in SkyWave Mobile

LONDON, ENGLAND: Inmarsat plc, the leading provider of global mobile satellite communications services, has completed its previously announced strategic investment, long term global distribution agreement and new product development agreement with SkyWave Mobile Communications Inc. of Ottawa, Canada.

Concurrent with this investment, SkyWave has acquired assets relating to the GlobalWave satellite low data rate (SLDR) products and services business from TransCore and entered into a sales distribution relationship with TransCore focusing on the North American trucking and rail segments of the SLDR market, designed to leverage TransCore's substantial presence in those segments.

Inmarsat has acquired 19 percent in the privately held SkyWave. In addition, Inmarsat and SkyWave have entered into a direct distribution agreement for the supply of satellite capacity to SkyWave on a global basis.

Perry Melton, Inmarsat's COO said: "We are delighted to have completed on our investment in Skywave. We estimate that the SLDR market is worth $600 million today in end user revenue and has significant growth potential. This investment and partnership with SkyWave fits our strategic commitment to pursue opportunities that leverage our satellite network assets."

Global distribution of SkyWave's Inmarsat-based products and services will be carried out through a network of highly successful and well established Solution Providers across the world, including TransCore, which will serve as the channel partner in North America serving the trucking and rail sectors.

Inmarsat was advised by Morgan Stanley on this transaction.

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