LONDON, July 2 /PRNewswire/ -- Inmarsat plc (LSE: ISAT), the leading provider of global mobile satellite communications services, has completed its previously announced strategic investment, long term global distribution agreement and new product development agreement with SkyWave Mobile Communications Inc. of Ottawa, Canada.
Concurrent with this investment, SkyWave has acquired assets relating to the GlobalWave satellite low data rate (SLDR) products and services business from TransCore and entered into a sales distribution relationship with TransCore focusing on the North American trucking and rail segments of the SLDR market, designed to leverage TransCore's substantial presence in those segments.
Inmarsat has acquired 19% in the privately held SkyWave. In addition, Inmarsat and SkyWave have entered into a direct distribution agreement for the supply of satellite capacity to SkyWave on a global basis.
Perry Melton, Inmarsat's Chief Operating Officer said, We are delighted to have completed on our investment in Skywave. We estimate that the SLDR market is worth US $600 million today in end user revenue and has significant growth potential. This investment and partnership with SkyWave fits our strategic commitment to pursue opportunities that leverage our satellite network assets.
Global distribution of SkyWave's Inmarsat-based products and services will be carried out through a network of highly successful and well established Solution Providers across the world, including TransCore, which will serve as the channel partner in North America serving the trucking and rail sectors.
Inmarsat was advised by Morgan Stanley on this transaction.
Inmarsat plc (LSE: ISAT) is the leading provider of global mobile satellite communications. Since 1979, Inmarsat has been providing reliable voice and high-speed data communications to governments, enterprises and other organizations, with a range of services that can be used on land, at sea or in the air. The company's services are delivered through a global network of more than 500 distribution partners and service providers operating in 180 countries. For the year ended 31 December 2008, Inmarsat plc had total revenue of US$ 996.7 million (2007: $576.5 million) with an EBITDA of US$531.2 million (2007: $388.1 million).
For more information, please visit http://www.inmarsat.com.
About SkyWave Mobile Communications
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, marine, 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 http://www.SkyWave.com.
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 SP 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 http://www.transcore.com
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.
For further information, please contact: Chris McLaughlin, Inmarsat plc: +44(0)20-7728-1015 / +44(0)779-627-6033; Anu Sood, SkyWave Mobile Communications: +1-613-836-4844 / +1-613-255-1300; Barbara Catlin, Transcore: +1-972-740-7150