— By Ben Ellison — April 2002
|Telenor buys COMSAT Mobile|
Telenor, a provider of Internet, mobile, and broadband services, has announced the completion of its acquisition of COMSAT Mobile from the Lockheed Martin Global Group. COMSAT Mobile provides communication services via Inmarsat satellites and has shown annual revenues exceeding $100 million. The Telenor Satellite Mobile division will merge with the newly acquired company to form Telenor Satellite Services, which will seek to provide global mobile communications for boaters. Telenor says that the purchase includes two Earth station facilities in Southbury, Connecticut, and Santa Paula, California. Combine the coverage these two stations offer with Telenor’s own station in Norway, and, says Telnor, you have "true global coverage for mobile satellites." This is not the first time Lockheed and Telenor have done business. In the fall of 2000, Telenor purchased some of Lockheed’s Inmarsat shares, making it the largest single owner of Inmarsat Ventures. —Capt. Patrick Sciacca
This article originally appeared in the January 2003 issue of Power & Motoryacht magazine.