Intelsat released a video statement from their CEO, Dave Wajsgras:
“Today, we are announcing an agreement to combine with SES, who will be acquiring Intelsat for $3.1 billion U.S. dollars. It’s an exciting combination that will strengthen value for our customers as they encounter new opportunities and options for satellite services. Combined, we will be able to offer true multi-orbit, multiband, software-defined solutions, providing connectivity anytime, anywhere it’s needed. In addition, we are bringing together satellite fleets operating in multiple orbits, infrastructure, financial resources, and world-class teams with world-class expertise.
Since I’ve joined Intelsat just a couple of years ago, I’ve often noted that our industry is in the middle of a significant transformation. Not only are new capabilities and technologies being brought to market, but we are also seeing increased competition among very well-financed peers. At the same time, our success over the past few years has also been transformational for Intelsat. Our successful financial restructuring has positioned us well to take a significant, positive step forward with our strategy. We all know that communication and connectivity needs for our customers are changing.
By forming a stronger company as part of SES, we will be better equipped to meet those needs going forward and better equipped to serve important public interests. By uniting complementary networks and offerings, we will also be able to offer a deeper and broader choice of products and services, with greater coverage, capacity, and resilience.
I want to emphasize that the employee team at Intelsat is a very important part of this transaction. I fully expect that a stronger company will provide our team members with greater stability for the long term and provide enhanced career and advancement opportunities. I’m convinced this is going to be a very, very attractive company to be part of. Our two companies are a powerful strategic fit, and I’m confident that together with SES, there’s nothing that our teams can’t accomplish.”
