Stratos Global Bought by Inmarsat Unit

Stratos Global of Bethesda said it has been acquired by a subsidiary of British satellite company Inmarsat. Inmarsat Finance II had indirectly financed the acquisition of Stratos by CIP Canada Investment in December 2007, and with that deal got a call option to buy CIP Canada and Stratos.

Stratos said that its management will remain and that it will operate as an independent subsidiary. The company, which provides satellite communication services to customers including the government, oil and gas industry, ships and media, earned $20.9 million last year on revenue of $639 million. Terms of the deal were not disclosed.

By Terri Rupar  |  April 15, 2009; 1:59 PM ET
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