Inmarsat Plc (LSE:ISAT) agreed to acquire all assets of Globe Wireless, LLC from Summit Partners and others for $45 million on December 17, 2013. The transaction will be funded from available liquidity. Globe Wireless generated revenues of $91 million for year ended June 30, 2013. Closing of the transaction is subject to certain regulatory and other approvals, which are expected to be completed in January 2014. Redwood Capital Group, LLC acted as financial advisor to Globe Wireless, LLC. Steptoe & Johnson LLP acted as legal advisor to Inmarsat Plc.

Inmarsat Plc (LSE:ISAT) completed the acquisition of all the assets of Globe Wireless, LLC from Summit Partners and others on January 2, 2014. Inmarsat (LSE:ISAT) received regulatory and other approvals.