Telenor Maritime acquires SatPoint AB in Nordic expansion move
04 October 2016 |
Telenor Maritime has acquired SatPoint AB, a company with a strong position in the Baltic Sea with more than 125 maritime broadband installations on ferries, merchant vessels, and floating accommodation units.
The acquisition of SatPoint AB by Telenor Maritime strengthens its position in the Baltic Sea. SatPoint AB is a provider of broadband satellite communication and IT services for maritime customers in Europe and across the globe. Telenor, which is a diversified company, is mainly a communications satellite operator. However, its data services are primarily regional, with coverage on its newest Thor 7 satellite extending from Greenland to the Middle East.
The company is also building out 4G data services on the Norwegian continental shelf. Consolidation in satellite communications is growing as firms attempt to gain global economy of scale. Eutelsat sold its controlling stake in WINS to Speedcast in August. Moreover, like Telenor, Eutelsat emphasised the value of acquiring an installed base of advanced passenger vessels which can use large volumes of data.
Frode Støldal, CEO of Telenor Maritime said: “It is important to note that the maritime sector has been undergoing a period of consolidation. By acquiring SatPoint, we are strengthening our position in Northern Europe and key customer segments, such as Ferries. Telenor Maritime is a major global mobile operator at sea with a mobile-centric solution. We will make an impact and drive the ongoing digital business transformation in the maritime industry deploying our Smart Networks, Mobile
“SatPoint is very excited to join forces with Telenor Maritime,” said Magnus Hedberg, CEO of SatPoint. “Being part of Telenor will be very beneficial to SatPoints existing VSAT customers, and together with Telenor Maritime we will be able to provide high-quality, innovative services to our clients and continue to grow the market.”
Perre-Jean Beylier, CEO of Speedcast, said at the time of the acquisition: “Passenger-carrying vessels, particularly cruise vessels, are an attractive growth segment.” The merger is dependent on approval from competition laws.
Telenor Maritime is a mobile operator at sea, and a marine communication specialist, providing global mobile coverage, the internet, and backhaul for the offshore and fishing industry, cruise ships, and ferries. Telenor Maritimes offices are located in Arendal, Norway, and Ft. Lauderdale, (FL) USA. Telenor Maritime is part of Telenor ASA. The company delivers VSAT equipment and capacity, teleport, and operations, enabling services such as VoIP, GSM, VoD, and TV. SatPoint AB was founded in 2002 in Stockholm, Sweden.