Tech could get Britain’s net zero target back on track climate crisis Tech could get Britain back on track to meet its net zero commitment after the chair of the independent Climate Change Committee warned that progress on the target had gone awry in recent months. With the UN’s flagship climate conference COP27 in Egypt one week away, Committee chair Lord Deben told The Independent today that [...]
Inmarsat president: Governments must solve space junk to reach net zero satellites British satellite giant Inmarsat has a message to governments worldwide: “Make sure space is still available to all” or risk losing out on significant CO2 reduction benefits. With the likes of Elon Musk ramping up activity in space, it has been warned that an average of one tonne of ‘stuff’ could be launched into orbit [...]
Inmarsat posts humble revenue growth as satellite giant gears up for Viasat’s £5.4bn takeover SATELLITE British satellite giant Inmarsat reported a humble 6.3 per cent hike in revenue to $1.35bn (£1.03bn) in 2021 as the company gears up for the completion of its $7.3bn (£5.4bn) takeover by US rival Viasat.
Satellite giants strike a deal with government for new UK space jobs March 21, 2022 US and UK satellite giants Viasat and Inmarsat have inked a deal with government to create new space jobs in the UK. The UK has thrown its arms around its blossoming space sector over the past 12 months, as it readies for the first-ever launches from home soil by the end of this year. Viasat [...]
Inmarsat takes on Elon Musk and Oneweb with satellite network launch July 29, 2021 British satellite giant Inmarsat is launching a new network of satellites to offer global broadband and 5G services, joining an escalating space race alongside rivals Elon Musk and Oneweb. The project, dubbed Orchestra, will bring together the company’s existing geosynchronous satellites (Geo) with low-earth orbit satellites (Leo) and land-based 5G services to create a single [...]
Inmarsat appoints former Nokia boss as its new chief executive February 24, 2021 British satellite giant Inmarsat today said it has appointed former Nokia boss Rajeev Suri as its new chief executive. Suri, who stepped down as president and chief executive of the Finnish telecoms giant in 2020 after six years at the helm, will take up the position next month. He will replace Rupert Pearce, who has [...]
Oaktree abandons attempt to stall $6bn Inmarsat deal December 3, 2019 Inmarsat shareholders have dramatically dropped their objections to a take-private deal on the day they were set to raise them in court. A consortium led by Oaktree Capital was expected to try and block a $6bn offer made by hedge funds in the High Court today. Oaktree, Kite Lake Capital Management and Rubric Capital Management [...]
Private equity firms rule out increasing Inmarsat bid ahead of High Court hearing December 2, 2019 The private equity consortium seeking to buy British satellite company Inmarsat has refused to up its bid or extend its expiration date ahead of a High Court hearing tomorrow, despite a legal challenge that could see the deal collapse. Connect Bidco, a consortium involving Apax Partners, Warburg Pincus, Canada Pension Plan and Ontario Teachers’ Pension [...]
Inmarsat and BT cut ties with Prince Andrew over Epstein friendship November 20, 2019 Inmarsat and BT have become the latest organisations to cut ties with the Duke of York in light of questions about his relationship with convicted sex offender Jeffrey Epstein. A source close to Inmarsat confirmed to City A.M. that the satellite company had withdrawn its sponsorship. In a statement, BT said that they would no [...]
Inmarsat rejects call from investor to delay takeover court hearing November 5, 2019 Satellite firm Inmarsat, which is being bought by a private equity-led consortium, has rejected a call by investor Oaktree Capital to delay a takeover court hearing until it has clarity on the status of its US spectrum holdings. Oaktree, which has a 2.85 per cent stake in Inmarsat, called on the board to delay the [...]