IntelSat up for grabs
PrintLargest satellite operator gets $6bn offer
Posted in Financial News, 17th April 2007 13:51 GMT
Free whitepaper – Thermal design of Dell PowerEdge server
IntelSat is looking for a new owner after receiving an offer of $6bn from private equity firm the Blackstone Group, according to the New York Times.
The world's largest commercial satellite operator has, reportedly, hired Credit Suisse to search for potential suitors.
A consortium of private equity companies paid $3.1bn for the company in 2004, so not a bad return on investment, though in 2006 IntelSat purchased PanAmSat for $3.2bn. IntelSat lost $369m in 2006, on revenue of $1.66bn, according to filings. It also has $11bn in long-term debt.
IntelSat was set up by a consortium of governments in 1964, but has only been a private company since 2001. Satellite communications is a big-money industry, and though these amounts seem high the demand for bandwidth never seems to decrease. ®
Analyst Keynote: The Register Agile Data Center Summit
10 Steps to a Successful CRM Implementation
Market Primer: ERP Systems
What Exchange can't do - and Dell can
Enabling The Agile Data Center
Dirty, dirty PCs: The X-rated picture guide
Top 500 supers - rise of the Linux quad-cores
Early adopters bloodied by Ubuntu's Karmic Koala
Sign up, sign up for The Register IT security newsletter