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EQT Group is a Sweden-based private equity firm that sought to acquire Eutelsat's ground segment.
Under the planned joint venture, Eutelsat would have owned 20% and EQT would have owned 80% of the ground-segment business.
Eutelsat entered into the deal with EQT in August 2024 to form a joint venture for its network of more than 70 teleports across France, Italy, Madeira, and Mexico.
Eutelsat expected the transaction to take until 2026 to close because of the regulatory process.
Eutelsat would have received 550 million euros from the transaction with EQT Infrastructure VI.
The non-completion of the transaction does not affect Eutelsat’s ability to fund capital expenditure related to its strategic growth trajectory.
The non-completion of the transaction increases Eutelsat’s net debt to EBITDA ratio from 2.5 times to 2.7 times.
Eutelsat canceled the deal to sell its ground segment infrastructure to private equity firm EQT Infrastructure VI after not all conditions to complete the deal were satisfied.
Eutelsat operates the Skylogic Mediterraneo teleport in Sardinia.
Post-transaction Eutelsat would have spent between 75 million and 80 million euros per year on a service agreement with the joint-venture company.
The non-completion of the transaction does not affect Eutelsat’s fiscal year 2025-26 financial objectives.
Eutelsat’s OneWeb constellation provides high-speed, low-latency connectivity to fleets long underserved by in-flight broadband.
The connectivity solution combines Gogo’s next-generation Plane Simple electronically steered antenna, Eutelsat OneWeb constellation services, and Immfly’s modular agnostic onboard server Equilux Aero.
The combined Immfly–Gogo–Eutelsat solution can be fully installed in 24 to 30 hours.
Sidewinder is an electronically steered antenna compatible with Geostationary Orbit satellites and the Eutelsat OneWeb Low-Earth Orbit constellation.
Immfly is leveraging Eutelsat’s OneWeb Low Earth Orbit constellation through Gogo hardware and network infrastructure for its new connectivity service.
Immfly’s new satcom service will equip formerly disconnected commercial aircraft with Gogo’s electronically steered antenna and Eutelsat’s OneWeb connectivity services.
The SpaceRISE consortium, led by SES, Eutelsat, and Hispasat, entered a 12-year, €10.6 billion concession agreement with the European Commission in December 2024.
The new OneWeb satellites for Eutelsat will integrate advanced digital channelizers to enable enhanced onboard processing capabilities and greater efficiency and flexibility.
Including a previous order of 100 satellites from December 2024, Eutelsat’s total OneWeb satellite orders under contract with Airbus are up to 440 satellites.