Inmarsat acquired for $3.4 billion by international consortium

An international consortium led by private-equity firms Apax and Warburg Pincus, has acquired UK-based satellite provider Inmarsat.

The deal, valued at $3.4 billion, sees the Inmarsat shares valued at $7.21 per share.

London-based Apax and New York-based Warburg Pincus are joined by the Canada Pension Plan Investment Board and the Ontario Teachers’ Pension Plan Board in the consortium.

Inmarsat’s Jet ConneX and SwiftBroadband solutions are amongst the most-used inflight connectivity solutions by private jets around the world.

Jet ConneX uses the Inmarsat-5 Global Xpress satellite constellation to give users a Ka-band connection. There are currently four Inmarsat-5 satellites in operation, all built for Inmarsat by Boeing.

UBS acted as lead adviser to the consortium, whilst JPMorgan, PJT Partners and Credit Suisse advised Inmarsat.