With the acquisition of Newtec, the group will be able to add intellectual property, products and market access, meeting demands across the full spectrum of the satcom market. In particular, the enhanced satcom capabilities will allow the group to better participate and lead the advancement of the satcom industry to enable Smart Cities globally.
SINGAPORE (Mar 28): ST Engineering is acquiring Newtec Group NV, a Belgium-based satellite communications (satcom) company, for 250 million euros ($383 million).
In a Wednesday filing, ST Engineering says the acquisition is complementary and synergistic as it currently offers a suite of satcom solutions to provide seamless global network and bandwidth management with end-to-end integration that addresses the growing needs of enterprise, government, mobility and defence market globally.
