SES closes $450m DRS deal
SES has closed its US$450 million acquisition of DRS’ satellite business.
The satellite firm revealed it had obtained all the necessary regulatory approvals for the deal to be completed following an initial agreement.
The DRS GES business will now be combined with SES GS to create a scaled solutions provider serving multi-orbit satellite communications for the US government and missions on land, sea and in the air.
The combined business is set to be led by David Fields, who began his new duties yesterday. Fields has over 30 years of experience in satellite communications and the IT services industry and joins SES GS from DRS GES.
He succeeds Brigadier General Pete Hoene, USAF who has announced his retirement after 11 years in charge of SES GS.
Fields said: “I am excited to join SES GS and honoured to lead the combined team where we will be delivering best-in-class solutions and state-of-the-art multi-orbit satellite networking capabilities.
“SES GS will be significantly expanding its differentiated value proposition for the US Government, with trusted multi-operator network integration and service management solutions.
“The breadth of our capabilities, now spanning both connectivity and integration, allows for building, managing and supporting the most advanced satellite networks solutions for our US Government customers.”
The consolidation of DRS GES with SES GS is expected to “unlock” US$25 million of annualised run-rate synergies, the companies said, with the government becoming SES’ largest data business segment in terms of revenue.