FCC gives T-Mobile the green light to buy Mint Mobile

The deal has been pending regulatory approval since January last year: The Federal Communications Commission FCC confirmed last week that it has approved T-Mobile to purchase buy Ka’ena Corp, the owner of Mint Mobile, for up to $1.35 billion. The deal will also cover the acquisition of other companies under the Ka’ena Corp umbrella, including Ultra Mobile and wholesaler Plum.

According to a press release published last year after the deal was agreed, T-Mobile stated that it will pay up to $1.35 billion in a combination of 39% cash and 61% stock for Ka’ena Corp.

The company was founded in 2015 as a subsidiary of US-based mobile virtual network operator Ultra Mobile.

After moderate success, the popularity of Mint Mobile skyrocketed in 2019 following actor Ryan Reynolds acquiring a 20–25% stake of the firm and subsequently starring in all related advertising.

In January last year, it was reported that T-Mobile had entered to acquire Mint Mobile, with the purchase seemingly made simpler due to the fact that Ultra and Mint customers already receive services over T-Mobile’s 4G and 5G networks.

“I know they’re going to fit in because they are hyper-focused on offering customers compelling products at a great value,” said Mike Sievert, CEO of T-Mobile in an earnings call last week.

“We’ll work to further fuel their success while also learning from their team who are absolute rock stars in the direct-to-consumer and value segments,” he continued. T-Mobile confirmed that after receiving regulatory approval, the deal is expected to close on May 1. FCC gives T-Mobile the green light to buy Mint Mobile

Read More........ → May 03, 2024

SES to buy Intelsat for $3.1bn

Posted by Georgia Sweeting: The deal comes less than a year after the two companies broke off merger talks

Luxemburg-based satellite company SES has signed a deal to buy Intelsat Holdings for $3.1 billion.

A joint press release from the two companies explained the combination as creating “a stronger multi-orbit operator with greater coverage, improved resiliency, expanded suite of solutions, enhanced resources to profitably invest in innovation, and benefit from the collective talent, expertise, and track record of both companies.”

Once combined, SES’s orbital assets will include 100 Geostationary Earth Orbit and 26 Medium Earth Orbit satellites.

The deal gives Intelsat an enterprise value stands of $5 billion, with SES suggesting the deal will deliver synergies worth €2.4 billion ($2.6 billion).

“Going forward, customers will benefit from a more competitive portfolio of solutions with end-to-end offerings in valuable Government and Mobility segments, combined with value-added, efficient, and reliable offerings for Fixed Data and Media customers,” said SES CEO Adel Al-Saleh.

Rumours related to a potential acquisition had first began to swirl last year, with SES confirming talks were taking place in a statement. However, these discussions appeared to fizzle out, leaving it unclear if discussions were ongoing.

Now, the deal has been unanimously approved by both company boards and is expected to close in the latter half of next year, pending regulatory approval.

The deal represents the latest stage in consolidation of the global satellite industry, as European companies attempt to compete against newer rivals such as Elon Musk’s Starlink, which launched in 2019 and has come to dominate in terms of sheer scale.

However, in terms of financials and with its well-established customer base, this newly combined SES–Intelsat could become an even more significant player in the satellite communications industry.

Indeed, some industry onlookers suggest that this combination could itself create a dominant market leader.

“The combined entity is poised to be the world’s largest satellite company in terms of revenue, and could dominate the market, leveraging its extensive resources and expertise to shape the future of satellite communications and deliver on new use cases,” commented Christof Kern, Business Development Lead in Satellite & Space at satellite consultancy TTP.

In related news, this week Intelsat announced that it will install and operate ruggedised multi-orbit satellite terminals on farm equipment from CNH in remote areas of Brazil. This will enable farmers to effectively implement precision farming, the practice of using technology to use precise amounts of water, fertiliser, and pesticides to maximise crop yield. The satellites will provide the connectivity allowing farmers to implement the practice. Source: https://totaltele.com/author/georgia-sweeting/e: 

Read More........ → May 02, 2024