Inmarsat Agrees to Acquire 19% Stake in SkyWave to Facilitate Purchase of GlobalWave Business
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Multi-faceted agreement will advance SkyWave's position in the M2M market
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, maritime, 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.
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, maritime, 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.
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Media Contact:
Anu Sood
SkyWave Mobile Communications
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