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ST Engineering strengthens global satcom position with completed acquisition of Newtec

Tuesday 1 October 2019 | 16:25 CET | News
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Singapore Technologies Engineering has completed its acquisition of Belgium-based Newtec for EUR 250 million in cash, after fulfilling all conditions for the deal. The company said that the purchase, together with the one of Glowlink Communications Technology, will enable ST Engineering to create a highly differentiated global satcom business group and enable Smart Cities globally. To drive higher brand visibility, Newtec will be renamed ST Engineering iDirect (Europe) NV. The acquisition is not expected to have any material impact on earnings this year.

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Categories: Broadcast & Satellite / Broadcast & Satellite
Companies: iDirect / Newtec
Countries: World
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