Motient Corp. and Skyterra Communications Inc. signed definitive agreements to consolidate the ownership and control of a pair of companies that provide Mobile Satellite Services, the companies announced May 8.

Under the agreement, Mobile Satellite Ventures LP (MSV) and its corporate general partner will be consolidated under Skyterra, while ownership and control of Terrestar Networks Inc. will be consolidated under Motient.

Motient currently holds a 43.4 percent interest in MSV and a 54.3 percent interest in Terrestar. Skyterra, through an 80 percent-owned subsidiary, holds a 16.2 percent stake in MSV and a 13.1 percent interest in Terrestar. When the transactions are completed, Skyterra will own 70 percent of MSV, while Motient will own 74 percent of Terrestar.

“After careful consideration of various structures we could pursue to achieve our goal, we concluded that the separation of MSV and Terrestar into two independent publicly traded entities will provide each company and our stockholders with the best path to unlock the current and future value of both businesses,” Christopher Downie, CEO of Motient, said.

MSV and Terrestar, which are both developing advanced mobile satellite communications systems, will each be controlled by an independent, publicly traded entity. The new ownership structures will help the two companies “be better positioned to pursue the deployment of separate hybrid satellite and terrestrial-based communications networks and engage in partnerships, or other arrangements, with potential strategic partners,” Motient and Skyterra said.

“This transaction provides MSV and Terrestar a clear path to execute their respective business plans and to maximize their abilities to capitalize on strategic opportunities and relationships,” Jeffrey Leddy, president and CEO of Skyterra, said in a statement.