Hispasat to Acquire AXESS Networks
Spanish satellite operator Hispasat has reached an agreement to acquire AXESS Networks, a teleport operator and satellite services provider with a presence in Latin America, Europe, the Middle East and Africa. The deal, announced Monday, values AXESS Networks at $96 million. The deal is subject to regulatory approval.
Hispasat said the acquisition will improve its offerings in extending cellular networks via satellite, connectivity networks for corporate clients, and digitizing remote areas in countries with large technological gaps. The company also expects the deal to help develop solutions for emerging markets including IoT and satellite 5G networks.
This acquisition is in line with Hisapsat’s most recent strategic plan, which aims to transform the company into a satellite solutions and services provider. Hispasat said it also brings the company greater involvement in the managed services value chain, and closer to its customers.
“The merger of AXESS Networks with HISPASAT represents a major leap for the company, since it demonstrates great support from one of the industry’s most relevant players and it allows us to integrate and strengthen the joint value proposition towards our markets. With this operation, we begin to form part of a leader that creates trends in the market and whose projects have a clear social background,” said Mauricio Segovia, AXESS Networks CEO.