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Telecommunications Sale of Telstra's satellite JV creates global leader
Telecommunications Sale of Telstra's satellite JV creates global leader | Sale of Telstra's satellite JV creates global leader |
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| by Stuart Corner | |
| Thursday, 16 February 2006 | |
  
The sale, announced last August, was completed on 14 February for $US191.3 million in cash, returning $US67 million to Telstra for its 35 percent stake in the company. Telstra also received $US13 million last year by way of a return of shareholder capital by Xantic. Xantic, with 2004 revenue of approximately $US172 million, employs 270 people worldwide and operates Inmarsat land earth stations in Burum, Netherlands, and Perth, Australia. It also host the new satellite access station for Inmarsat's next generation BGAN (Broadband Global Area Network) service, launched late last year. Stratos Global Corporation, listed on the Toronto Stock Exchange, offers customers operating in remote locations a variety of satellite and microwave wireless technologies to provide IP, data, and voice solutions through a range of emerging and established technologies such as Inmarsat, Iridium, Globalstar, StratosITeK, Direcway, VSAT, and others. It serves a diverse range of markets including government, military, oil and gas, maritime, industrial, aeronautical, media and recreational users. Its services are offered through more than 300 dealers around the world. Annual revenues for 2004 were $US368.7 million. The Telstra KPN JV was formed in 2000 as Station 12 through the merger of Telstra and KPN's Inmarsat-based mobile communications businesses. Station 12 was merged with SpecTec shortly afterwards and renamed Xantic. |
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