13 Oct 10. Lockheed Martin Corporation (NYSE: LMT) has entered into a definitive agreement to sell its Enterprise Integration Group (EIG) business to Veritas Capital for $815m in cash. As announced on June 2, the Corporation’s plan to divest EIG is based on the U.S. Government’s increased concerns about perceived organizational conflicts of interest. EIG provides system engineering services, architecture, and integration services and support to a broad range of government customers. Divesting the business better positions it for growth, benefiting customers, shareholders and employees. “The decision to divest EIG followed a comprehensive review of our portfolio to find ways to continuously provide the best, most affordable solutions for our customers, a secure future for our employees and value for our shareholders,” said Lockheed Martin Chairman & CEO Robert J. Stevens. “EIG and its employees continuously demonstrate tremendous capability and serve the nation with dedication, diligence and honor. I am confident that the company and its employees will continue to thrive under the management of Veritas.” The closing of the transaction is subject to review under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. It is expected that the transaction will close by the end of this year.
13 Oct 10. Paradigm Services, part of Astrium Services’ Telecoms division, has entered into a 15-year contract with Telesat, the world’s fourth largest fixed satellite services operator, for the full X-band payload on Telesat’s Anik G1 satellite. Astrium through Paradigm Services, currently provides state-of-the-art seamless milsatcom services to the UK Ministry of Defence, the US Department of Defense, the Canadian Department of National Defence and many other international armed forces and Government Agencies, combining its own satellites with capacity leases to meet all milsatcom requirements.
Eric Beranger, CEO of Astrium Services, said: “Our decision to commit to the full X-band payload on Anik G1, and the resulting long-term partnership with Telesat, shows once again our innovative approach to new market opportunities that has been crucial to our continued success.”
“For the first time, the Canadian Department of National Defence and US Department of Defense users will be able to procure Pacific and Atlantic X-band capacity from the same source through our One-Stop-Shop approach.”
Demand for X-band services from civil and military agencies around the world is growing as governments continue to increase their use of commercial satellites. Anik G1 will be the first commercial satellite with substantial X-band coverage of the Pacific reaching out to Hawaii. The characteristics of the X-band frequency make it the ideal choice for naval platforms, allowing high data throughput with lower rain-fade margins compared with Ku or Ka-band. Anik G1, scheduled for launch in the second half of 2012, will operate from 107.3º West and will utilise a 3-channel, global beam, X-band payload covering Canada, the Americas and the Pacific Ocean. In addition, Anik G1 will include 16 transponders in extended Ku-band over Canada, 24 C-band and 12 Ku-band transponders over South America. The Anik G1 X-band payload has a global beam performance comparable to that of the Skynet-5 fleet of three spacecraft and will enhance Paradigm Services’ existing X-band capability to provide coverage in areas that were previously unsupportable. The payload is fully NATO compatible and will therefore be able to support the entire current customer base.
04 Oct 10. Iridium Communications Inc. (Nasdaq:IRDM) has signed the definitive Coface Facility Agreement to finance its next-generation satellite constellation, Iridium NEXT. The syndicate of nine banks is led by Deutsche Bank AG, Banco Santander SA, Societe Generale, Natixis and Mediobanca International S.A., and includes BNP Paribas, Credit Industriel et Commercial, Intesa Sanpaolo S