![]() “Together, we can advance broadband communications and create new hybrid space and terrestrial networks that drive greater performance, coverage, speed, reliability and value for customers,” said Mark Dankberg, Viasat’s executive chair. Viasat, which in 2019 had Priti Patel on a £1,000-an-hour contract for five hours’ work a month as a strategic adviser until she was appointed home secretary, said that it would “cooperatively engage” with the UK government to continue to operate in the country following the same commitments made by the private equity consortium that took over Inmarsat two years ago. The company, whose technology was used in the hunt for the missing Malaysia Airlines flight MH370 in 2014, employs about 860 people at its base in Old Street and 1,800 worldwide. It provides commutations services for ships as well. It has 14 satellites in orbit and plans to launch another seven, and supplied satellite services to the Ministry of Defence to improve ground communications for troops fighting in Afghanistan. Inmarsat provides mobile satellite services that underpin email, internet and video conferencing, as well as in-flight wifi. “Viasat plans to build on Inmarsat’s presence in the UK and is committed to preserving and growing the investment of the combined company in UK space communications.” “Viasat plans to preserve and grow Inmarsat’s London headquarters,” the US company said, announcing the deal. When the turnaround specialist Melrose bought the defence contractor GKN in an £8bn deal last year, the Labour MP Jack Dromey called on the government to block the deal but the business minister, Greg Clark, decided against any intervention.Viasat, which described the deal as “transformative” for the global communications industry, said it intended to work with the government to continue to invest and grow Inmarsat’s presence in the UK. ![]() The government has powers to intervene in takeovers but can only do so in strictly limited sets of circumstances, including as to whether a deal might affect financial stability, reduce media plurality, or have defence and national security implications. But, given how distracted we are with Brexit, could we actually be losing control of key companies rather than ‘taking back control?’”Ī spokesperson for the Department for Business, Energy and Industrial Strategy said: “This is a commercial matter but we are monitoring this takeover bid.” “This became an issue when ARM Holdings was taken over immediately after the EU referendum in 2016. Helal Miah, an investment research analyst at the Share Centre, said: “As one of the few large technology groups left in the UK and one that is of strategic and security importance, the government has previously mentioned that these businesses could be protected from overseas takeovers. Inmarsat’s shares rose nearly 9% to 550p on Monday. It has struggled in recent years, however, and faces increasing competition from rivals including Elon Musk’s SpaceX and the Richard Branson-backed OneWeb, which last month launched its first six satellites into space. Inmarsat still provides communication services for ships and the consortium pledged to ensure that the company would fulfil its obligations under the global maritime distress and safety system. It was privatised in 1999 and floated on the London Stock Exchange in 2005. The company was set up in 1979 by the International Maritime Organization, the UN’s maritime body, as an international governmental organisation to enable ships to communicate with shore and to call for help in emergencies. ![]() Its “groundbreaking” technology was also used in the hunt for the missing Malaysia Airlines flight MH370 in 2014, narrowing the corridor of the Indian Ocean in which accident investigators hunted for the plane. It supplied satellite services to the Ministry of Defence to improve ground communications for soldiers fighting in Afghanistan. Inmarsat, which has 13 satellites in orbit, provides mobile satellite services that underpin email, internet and video conferencing, as well as in-flight wifi. The agreed deal comes nine months after Inmarsat rejected an offer from its US rival EchoStar and reignites concerns over takeovers of leading UK technology businesses following Melrose’s controversial £8bn acquisition of the engineering company GKN and the £24bn takeover of smartphone chipmaker ARM Holdings by Japan’s SoftBank. ![]() Inmarsat employs 800 people at its base at Old Street roundabout in London, out of a 2,000-strong global workforce. The investor group said it would keep Inmarsat’s headquarters in the UK and maintain the company’s spending on research and development. ![]()
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