Harris Corp to acquire Schlumberger Global Connectivity Services for $397.5-mn
09 Nov 2010
US-based defence and civilian sector communications equipment supplier Harris Corporation yesterday signed a deal to acquire Global Connectivity Services (GCS), the satellite communications services business of oil and gas industry service provider Schlumberger Ltd, for $397.5 million.
Houston-headquartered Schlumberger GCS provides global communication services for a wide range of customers in around 50 countries, engaged primarily in the oil and gas industries, including parent Schlumberger.
With principal operations in the UK, Norway, Singapore and the US, Schlumberger GCS has 12 globally deployed teleports, a 24x7 network operations centre, worldwide terrestrial infrastructure, and VSAT manufacturing capabilities in the UK and Singapore.
Harris, which has made 26 acquisitions since 1995 and is currently expanding its satellite business, aims to merge Schlumberger GCS with global provider of mission-critical, managed satellite communications solutions for the energy, government and maritime industries, CapRock Communications, which it its acquired in May for $525 million. (See: Harris Corporation to buy CapRock Communications for $525 million)
"Combining Schlumberger GCS with CapRock will create an organisation with unsurpassed global satellite network capabilities, broad service offerings, and a large experienced service team to provide customers with superior remote and in-the-field support," said Howard Lance, chairman, president and CEO of Harris.
"Harris CapRock Communications will be able to use its capabilities and expertise to offer customers the most secure, reliable and efficient solutions in the industry," he added.
