Satellite operators SES and Intelsat have announced a definitive agreement under which SES will acquire 100% of the equity of Intelsat Holdings S.a.r.l. for a cash consideration of $3.1 billion. This landmark transaction is poised to create a more robust multi-orbit satellite operator with enhanced global coverage, improved service resiliency, and a significantly expanded portfolio of solutions.
The acquisition, which has received unanimous approval from the Boards of Directors of both companies, is anticipated to close in the second half of 2025, subject to regulatory approvals.
This strategic combination aims to leverage the strengths of both companies, bringing together their respective geostationary (GEO) and medium Earth orbit (MEO) satellite fleets. The integrated entity is expected to deliver greater operational flexibility and a more comprehensive suite of connectivity services to customers worldwide.
Upon completion, the combined company is projected to boast a substantial gross backlog of €9 billion, with combined revenues reaching €3.8 billion and an Adjusted EBITDA of €1.8 billion. These figures underscore the significant scale and financial strength that the merged entity is expected to achieve.
“This is a transformative moment for the satellite industry,” stated a representative from SES, emphasizing the strategic benefits of the merger. “By combining our capabilities with Intelsat, we will create a truly formidable multi-orbit operator, better positioned to serve our customers with unparalleled coverage and resilience.”
A spokesperson for Intelsat echoed this sentiment, highlighting the synergy of the deal. “This combination represents a fantastic opportunity to deliver enhanced value to our customers and stakeholders. We are excited about the prospects of joining forces with SES to innovate and lead in the evolving satellite communications landscape.”
The SES acquisition is set to reshape the competitive landscape of the satellite communications sector, promising a more integrated and powerful player in the global connectivity market.
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