Stratos Global Corp. closed its $191.3 million acquisition of rival satellite communications company Xantic B.V. Feb. 14, creating a half billion dollar company with a 44 percent market share of Inmarsat mobile satellite telecommunications revenue.

The acquisition combines Stratos’ satellite Internet protocol (IP), data and voice strength in the Americas with Xantic’s position in Europe and the Asia-Pacific region and “creates the clear market leader in each of the key vertical markets for mobile satellite services, including the government and military, maritime, leasing and telecom carrier sectors,” Jim Parm, president and CEO of Stratos, said in a statement. “The acquisition of Xantic significantly enhances our geographic and vertical market presence to better serve the critical remote communications needs of our customers, and our expanded scale will drive significant operational synergies and an improved cost structure.”

The deal combines Stratos’ 25 percent market share of Inmarsat revenue with Xantic’s 19 percent. Stratos said that on a pro forma basis the companies posted revenues of $560.2 million in the year ended Sept. 30.

Dutch telco KPN sold its 65 percent stake of Xantic because the business was no longer part of KPN’s core activities. KPN expects to clear about 65 million euros ($77.4 million) in the deal. The remaining 35 percent of Xantic has been held by Australian telco Telstra.

Stratos financed the acquisition of Xantic and refinanced its existing debt through the completion of $270 million of new senior secured credit facilities and the issuance of $150 million of senior notes. Stratos expects to record a $24 million non-cash write-off in the 2006 first quarter related to “the rationalization of its post-acquisition land earth station network” and for costs previously deferred in connection with its December 2004 refinancing.

Stratos also said it expects to realize savings of $20 million to $25 million in annual operating expense and capital expenditure synergies within 24 months.