European giant telecommunications satellite operator SES buys InterSAT

Competition for space-based internet service is intensifying, as European telecommunications satellite operator SES announced on Tuesday that it will acquire U.S. rival Intelsat for $3.1 billion.

The agreement was reached after an extended period of negotiations spanning a year.

"In a fast-moving and competitive satellite communication industry, this transaction expands our multi-orbit space network, spectrum portfolio, ground infrastructure around the world, go-to-market capabilities, managed service solutions, and financial profile," Adel Al-Saleh, the company's chief executive, said.

According to SES, "high growth segments" would make up 60% of the combined group's revenue and generate an annual core profit of €1.8 billion.

"The combination will create a stronger multi-orbit operator with greater coverage," SES said.

The boards of both corporations reached a consensus on the transaction. The parties anticipate finalizing the transaction during the latter part of 2025, pending regulatory approval.

Source: Newsroom