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INMARSAT AGREES TO ACQUIRE 19% STAKE IN SKYWAVE TO FACILITATE PURCHASE OF GLOBALWAVE BUSINESS
Ottawa, CANADA - 01 April, 2009– SkyWave Mobile Communications,
Inc. ("SkyWave"), a global provider of two?way satellite products
and services today announced it has signed a definitive agreement
with Inmarsat Global Ltd., subject to regulatory approval, for an
investment in SkyWave. Inmarsat plc (LSE: ISAT), is the leading
provider of global mobile satellite communications services. Concurrent
with this investment, SkyWave will acquire assets relating to the
GlobalWave Satellite Low Data Rate (SLDR) services business from
TransCore. SkyWave and TransCore will also enter into a sales distribution
relationship focusing on the North American trucking and rail segments
of the SLDR market, designed to leverage TransCore's substantial
presence in those segments.
Under the agreements announced today, subject to regulatory approval
and SkyWave's acquisition of the GlobalWave assets, Inmarsat will
acquire a stake of approximately 19% in the privately held SkyWave.
In addition, Inmarsat and SkyWave will enter into a direct distribution
agreement for the supply of satellite capacity to SkyWave on a global
basis.
The agreement announced today also provides for a fully?funded development program by SkyWave for new products and services designed to work over the Inmarsat system. This begins with a program to support existing SkyWave and GlobalWave product lines and services. Hardware technologies will be evolved onto a common network platform, to create a new high capacity, optimised product portfolio.
Global distribution of SkyWave's Inmarsat?based products and services will be carried out through a network of highly successful and well established Solution Providers across the world, including TransCore's channel partners in North America which include leading companies serving the trucking and rail sectors.
About SkyWave Mobile Communications Inc.
SkyWave Mobile Communications is a global provider of two?way D+
and IsatM2M satellite terminals, integrated Satellite/GPRS telematics
terminals and network services based on the global Inmarsat service.
SkyWave's products enable land mobile, marine, oil & gas, government,
defence and Supervisory Control and Data Acquisition (SCADA) applications.
With over 160,000 terminal units shipped globally, Solution Providers
trust SkyWave to deliver highly reliable and cost?effective network
services. For more information, please visit www.SkyWave.com.
About Inmarsat
Inmarsat plc (LSE: ISAT) is the leading provider of global mobile
satellite communications. Since 1979, Inmarsat has been providing
reliable voice and high?speed data communications to governments,
enterprises and other organizations, with a range of services that
can be used on land, at sea or in the air. The company's services
are delivered through a global network of more than 500 distribution
partners and service providers operating in 180 countries. For the
year ended 31 December 2008, Inmarsat plc had total revenue of US$
996.7 million (2007: $576.5 million) with an EBITDA of US$531.2
million (2007: $388.1 million). For more information, please visit
www.inmarsat.com.
About TransCore.
TransCore's 70?year heritage supporting the transportation industry spans a range of offerings for the toll, traffic management, airport, parking, access control, rail, intermodal, trucking, and homeland security markets. With products and installations in 46 countries, more than 100 patents worldwide, and pioneering applications of RFID and satellite communications technologies, TransCore's expertise is unparalleled in the markets it serves. TransCore has more than 1,700 employees in 80 locations throughout the world.
TransCore operates as a unit of Roper Industries. Roper Industries
is a market-driven, diversified growth company with trailing twelve
month revenues of $2.3 billion, and is a component of the Standard
& Poor’s S&P Mid-Cap 400, Fortune 1000, and Russell
1000 Indexes. Roper provides engineered products and solutions for
global niche markets, including water, energy, radio frequency and
research/medical applications. For more information, visit www.transcore.com
Forward-looking Statements Certain statements in
this announcement constitute "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements involve risks, uncertainties
and other factors that may cause our actual results, performance
or achievements, or industry results, to be materially different
from those projected in the forward-looking statements. These factors
include: general economic and business conditions; changes in technology;
timing or delay in signing, commencement, implementation and performance
of programmes, or the delivery of products or services under them;
structural change in the satellite industry; relationships with
customers; competition; and ability to attract personnel. You are
cautioned not to rely on these forward-looking statements, which
speak only as of the date of this announcement. We undertake no
obligation to update or revise any forward-looking statement to
reflect any change in our expectations or any change in events,
conditions or circumstances.
Media contact
Anu Sood
SkyWave Mobile Communications
public.relations@skywave.com
Tel: +1 .613.836-4844
Inmarsat agrees to acquire significant shareholding in SkyWave Mobile Communications - advances position in satellite low data rate services market
LONDON, 1st April, 2009 – Inmarsat plc (LSE: ISAT),
the leading provider of global mobile satellite communications services,
today announced a strategic investment, long term global distribution
agreement and new product development agreement with SkyWave Mobile
Communications Inc. of Ottawa, Canada.
Concurrent with this investment, SkyWave will acquire assets relating
to the GlobalWave satellite low data rate (SLDR) products and services
business from TransCore and will enter into a sales distribution
relationship with TransCore focusing on the North American trucking
and rail segments of the SLDR market, designed to leverage TransCore’s
substantial presence in those segments.
Under the agreements announced today, Inmarsat will, subject to
SkyWave’s acquisition of the GlobalWave assets, acquire a
stake of approximately 19% in the privately held SkyWave. In addition,
Inmarsat and SkyWave will enter into a direct distribution agreement
for the supply of satellite capacity to SkyWave on a global basis.
SkyWave’s acquisition of the GlobalWave assets is subject
to certain regulatory approvals which are expected to be granted
by mid 2009.
Perry Melton, Inmarsat’s Chief Operating Officer said, “We
are investing in Skywave because we see the strong potential from
the combined SkyWave and GlobalWave technical leadership in the
SLDR market. We estimate that the SLDR market is worth $600 million
today in end user revenue and has significant growth potential.
This investment and partnership with SkyWave fits our strategic
commitment to pursue opportunities that leverage our satellite network
assets.”
The agreement announced today also provides for a fully-funded
development programme by SkyWave for new products and services designed
to work over the Inmarsat system. This begins with a programme to
support existing SkyWave and GlobalWave product lines and services.
Hardware technologies will be evolved onto a common network platform,
to create a new high capacity, optimised product portfolio.
Global distribution of SkyWave’s Inmarsat-based products
and services will be carried out through a network of highly successful
and well established Solution Providers across the world, including
TransCore’s channel partners in North America which include
leading companies serving the trucking and rail sectors.
Inmarsat was advised by Morgan Stanley on this transaction.
For further information, please contact:
Chris McLaughlin, Inmarsat plc: + 44 20 7728 1015 / +44 779 627
6033
Anu Sood, SkyWave Mobile Communications: +1 613 836 4844
Barbara Catlin, Transcore: +1 972 740 7150
About Inmarsat
Inmarsat plc (LSE: ISAT) is the leading provider
of global mobile satellite communications. Since 1979, Inmarsat
has been providing reliable voice and high-speed data communications
to governments, enterprises and other organizations, with a range
of services that can be used on land, at sea or in the air. The
company's services are delivered through a global network of more
than 500 distribution partners and service providers operating in
180 countries. For the year ended 31 December 2008, Inmarsat plc
had total revenue of US$ 996.7 million (2007: $576.5 million) with
an EBITDA of US$531.2 million (2007: $388.1 million).
For more information, please visit www.inmarsat.com.
About SkyWave Mobile Communications
SkyWave Mobile Communications is a global provider of two-way D+
and IsatM2M satellite terminals, integrated Satellite/GPRS telematics
terminals and network services based on the global Inmarsat service.
SkyWave’s products enable land mobile, marine, oil & gas,
government, defence and Supervisory Control and Data Acquisition
(SCADA) applications. With over 160,000 terminal units shipped globally,
Solution Providers trust SkyWave to deliver highly reliable and
cost-effective network services.
For more information, please visit www.SkyWave.com.
About TransCore.
TransCore’s 70-year heritage supporting the transportation
industry spans a range of offerings for the toll, traffic management,
airport, parking, access control, rail, intermodal, trucking, and
homeland security markets. With products and installations in 46
countries, more than 100 patents worldwide, and pioneering applications
of RFID and satellite communications technologies, TransCore's expertise
is unparalleled in the markets it serves. TransCore has more than
1,700 employees in 80 locations throughout the world.
TransCore operates as a unit of Roper Industries. Roper Industries
is a market-driven, diversified growth company with trailing twelve
month revenues of $2.3 billion, and is a component of the Standard
& Poor’s S&P Mid-Cap 400, Fortune 1000, and Russell
1000 Indexes. Roper provides engineered products and solutions for
global niche markets, including water, energy, radio frequency and
research/medical applications.
For more information, visit www.transcore.com
Forward-looking Statements
Certain statements in this announcement constitute "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements
involve risks, uncertainties and other factors that may cause our
actual results, performance or achievements, or industry results,
to be materially different from those projected in the forward-looking
statements. These factors include: general economic and business
conditions; changes in technology; timing or delay in signing, commencement,
implementation and performance of programmes, or the delivery of
products or services under them; structural change in the satellite
industry; relationships with customers; competition; and ability
to attract personnel. You are cautioned not to rely on these forward-looking
statements, which speak only as of the date of this announcement.
We undertake no obligation to update or revise any forward-looking
statement to reflect any change in our expectations or any change
in events, conditions or circumstances.
SOURCE: Inmarsat plc
Contacts:
TransCore
Barbara Catlin
972.740.7150
Barbara.catlin@transcore.com
SkyWave Mobile Communications
Anu Sood
+1 613 836 4844
Anu.Sood@skywave.com
Inmarsat
Chris McLaughlin
+44 779 627 6033
Christopher_McLaughlin@inmarsat.com
TransCore
Secures Long-Term Access to Inmarsat Satellites through Strategic
Collaboration with SkyWave Mobile Communications
Companies to combine network operations
under SkyWave ownership, TransCore to focus on North American truck
and rail markets
OTTAWA, Canada, April 1, 2009 – TransCore announces
the sale of GlobalWave satellite communications assets to Ottawa-based
SkyWave Mobile Communications. Additionally today, Inmarsat, the
leading provider of global mobile satellite communications services,
will make a 19 percent strategic investment in privately held SkyWave.
TransCore will continue to sell, service and manufacture the GlobalWave
suite of products as a SkyWave value added reseller for North American
fleet and rail markets. The agreements are subject to regulatory
approval which is expected to be granted in mid-2009.
“The collective expertise of SkyWave Mobile Communications,
Inmarsat, and TransCore will provide our transportation customers
with unparalleled products and service, while ensuring long-term
satellite access,”said John Worthington, president of TransCore’s
Commercial Technology Group. “As current satellite networks
age, access to newer technology and long-range service will provide
customers the assurance that asset tracking products they invest
in can support their needs now and in the future.”
Over the past five years since TransCore originally acquired GlobalWave,
the company has grown the satellite communications business through
groundbreaking research and development of asset tracking technology,
which included a core modem that more than doubled battery life
of mobile units and container tracking prototype designs for the
European Space Agency.
Kelly Gravelle, TransCore’s chief technical officer, added,
“This agreement provides GlobalWave customers continued access
to a powerhouse of resources devoted to research and development
that will bring an array of next generation products to market in
a short time.”
Today, GlobalWave supports customers worldwide including more than
675 commercial fleets throughout North America and the U.S. Department
of Defense.
About SkyWave Mobile Communications
SkyWave Mobile Communications Inc. is a global provider of two-way
D+ and IsatM2M satellite terminals, integrated Satellite/GPRS telematics
terminals and network services based on the global Inmarsat service.
SkyWave’s products enable land mobile, marine, oil & gas,
government, defense and Supervisory Control and Data Acquisition
(SCADA) applications. With over 160,000 terminal units shipped globally,
Solution Providers trust SkyWave to deliver highly reliable and
cost-effective network services. For more information, please visit
www.SkyWave.com.
About Inmarsat
Inmarsat plc (LSE: ISAT) is the leading provider
of global mobile satellite communications. Since 1979, the company
has been providing reliable voice and high-speed data communications
to governments, enterprises and other organizations, with a range
of services that can be used on land, at sea or in the air. Inmarsat's
services are delivered through a global network of more than 500
distribution partners and service providers operating in 180 countries.
For the year ended 31 December 2008, Inmarsat plc had total revenue
of US$ 996.7 million (2007: $576.5 million) with an EBITDA of US$531.2
million (2007: $388.1 million).
For more information, please visit www.inmarsat.com.
About TransCore.
TransCore’s 70-year heritage supporting the transportation
industry spans a range of offerings for the toll, traffic management,
airport, parking, access control, rail, intermodal, trucking, and
homeland security markets. With products and installations in 46
countries, more than 100 patents worldwide, and pioneering applications
of RFID and satellite communications technologies, TransCore's expertise
is unparalleled in the markets it serves. TransCore has more than
1,700 employees in 80 locations throughout the world.
TransCore operates as a unit of Roper Industries. Roper Industries
is a market-driven, diversified growth company with trailing twelve
month revenues of $2.3 billion, and is a component of the Standard
& Poor’s S&P Mid-Cap 400, Fortune 1000, and Russell
1000 Indexes. Roper provides engineered products and solutions for
global niche markets, including water, energy, radio frequency and
research/medical applications.
For more information, visit www.transcore.com
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