Satellite communications service provider SES is to acquire Intelsat in a deal valued at $3.1 billion (€2.8 billion) subject to all of the relevant approvals.

The companies say that the combined organisation will create a stronger multi-orbit operator with greater coverage, improved resiliency and  enhanced resources to invest in innovation. A statement from both parties also highlights the size of the talent pool available to the new operation.

SES and Intelsat had engaged in talks during 2022 and 2023, but no deal had been reached until now.

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Adel Al-Saleh, CEO of SES, commented: “This transaction expands our multi-orbit space network, spectrum portfolio, ground infrastructure around the world, go-to-market capabilities, managed service solutions, and financial profile. I am excited by the opportunity to bring together our two companies and augment SES’s own knowledge base with the added experience, expertise, and customer focus of the Intelsat colleagues.”

David Wajsgras, CEO of Intelsat, commented: “By combining our financial strength and world-class team with that of SES, we create a more competitive, growth-oriented solutions provider in an industry going through disruptive change. The combined company will be positioned to meet customers’ needs around the world and exceed their expectations.”