Apax Partners backed Marlink said it has signed a definite agreement to acquire a majority stake in fellow maritime VSAT services firm OmniAccess.
The transaction remains subject to customary regulatory approval and closing is expected in the first half of 2018.
OmniAccess’ existing management team will remain unchanged and continue to keep a significant shareholding in the company. OmniAccess will remain a stand-alone company, functioning as the competence center for broadband connectivity solutions for the high-end superyacht and boutique cruise-line customers.
Erik Ceuppens, CEO of Marlink Group, said, “OmniAccess is a truly unique company with in-depth understanding, expertise and capabilities to serve the sophisticated superyacht segment better than anyone else. Together, we extend and strengthen the Group’s global leadership position in the maritime broadband communication and IT market, with a unique position in all maritime segments.”
Combined, the new group generates close to $500 million revenues, employing about 1,000 people and operating a global infrastructure, supporting an install base of more than 4,000 VSAT vessels.