Apax Partners has signed a definitive agreement to acquire Telemar Group from its current shareholders.
The combined activities of Telemar and Marlink will create one of the world’s largest maritime communications firms.
The newly combined group will generate $450m in revenues with more than 800 employees worldwide serving at least 1 in 3 vessels operating globally, a press release claimed.
Earlier this year, Apax Partners completed the acquisition of Marlink.
“The satellite communications industry is undergoing profound changes,” said Bertrand Pivin, a partner at Apax Partners. “Together with our satellite network operator partners, we are en route to create the leading worldwide servicing company which will be the partner of choice to enable the digital transformation of all our maritime clients.”
The final closing of the transaction is subject to regulatory approvals and is expected to take place within the next few months.
