Stratos Global Corp. executed a definitive agreement to acquire 100 percent of Plenexis from private equity and venture capital company 3i. Stratos also announced the acquisition of a 49 percent stake in Navarino Telecom SA and NTS Maritime (collectively referred to as Navarino), Stratos’ largest maritime dealer, with an option to acquire the remaining interest in this dealer.

“The acquisitions of Plenexis and Navarino are important steps in Stratos’ growth strategy, as they strengthen our presence in Europe,” Stratos President and CEO Jim Parm said in a prepared statement.

The transaction is expected to close by the end of the month. Financial terms were not disclosed.

The company also announced its board of directors has authorized an offer to purchase up to 15 percent of its common stock through a Dutch auction tender offer. The offer, which represents 7.4 million of the company’s 49.4 million outstanding shares will be made at a purchase price of not less than Cdn. $10.75 (U.S. $8.95) and not more than Cdn. $12.00 (U.S. $9.99) per common share, representing a premium of up to 12 percent above the Jan. 12 closing price.

The transactions will be financed with cash on hand, as well as through the issuance of a new five year U.S. $25 million incremental credit facility under Stratos’ existing credit agreement.