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SES is acquiring Intelsat for $3,100,000,000 in cash along with certain contingent value rights for 100% of Intelsat.
The combined SES–Intelsat company would have about $4,100,000,000 in annual revenues.
SES and Intelsat together operate more than 100 geostationary (GEO) satellites combined.
Two additional SES mPower satellites are scheduled to launch later 2024.
On closing, SES forecasts Adjusted Net Debt to Adjusted EBITDA to be around 3.5 times before reducing to below 3 times within 12–18 months after closing.
Boeing worked closely with SES to determine the cause of the power issue, implement remedies for the on-orbit satellites, and fix the problem for additional mPower satellites being built.
SES will acquire 100% of the equity of Intelsat Holdings S.a.r.l. for $3,100,000,000 (2,800,000,000 EUR) plus certain contingent value rights.
Boeing is building two additional mPower satellites to provide the performance SES anticipated for the constellation.
By end-2026, seven new MEO O3b mPOWER satellites are expected to be launched for the combined company.
SES’s maritime business supports five major cruise line operators via fully managed, multi-orbit connectivity agreements.
SES estimated its cash on hand at $2,600,000,000 at the end of March.
SES S.A. will pay a cash consideration of $3,100,000,000 (€2.8 billion) and certain contingent value rights to acquire Intelsat Holdings S.a.r.l.
SES and Intelsat agreed on the acquisition on 2024-04-30.
The combined SES–Intelsat company would have estimated adjusted EBITDA of $1,900,000,000 for 2024.
SES S.A. will acquire Intelsat S.A. through the purchase of 100% of the equity of Intelsat Holdings S.a.r.l.
SES has launched six of 13 planned O3b mPOWER high-throughput, low-latency satellites.
SES combines its MEO and GEO networks with access to LEO solutions via strategic partnerships to offer all-orbit connectivity solutions.
The first six O3b mPOWER satellites are operating in medium Earth orbit at approximately 8,0 m altitude.
The first stage booster supporting the 2024-04-28 mission was flying its 13th flight and had previously launched CRS-26, OneWeb Launch 16, Intelsat IS-40e, O3b mPOWER, Ovzon 3, EUTELSAT 36D, and seven Starlink missions.
SES has launched six of 13 O3b mPOWER high-throughput, low-latency satellites to date.