📋 Tender Overview
Singapore Technologies Engineering Ltd ST Engineering announced that its U.S. subsidiary iDirect Government LLC iDirectGov has acquired 100 ownership in Glowlink Communications Technology Inc Glowlink the acquisition.This acquisition was carried out by way of a merger through a newly-incorporated special purpose vehicle Intrepid Merger Sub Inc. and Glowlink with Glowlink being the surviving entity.The aggregate purchase consideration was US20m approximately S28m the consideration on a cash-free and debt-free basis plus employment based retention payment of up to US5m approximately S6.9m subject to fulfilment of certain conditions.Based in Mountain View CA U.S. Glowlink delivers innovative solutions that mitigate satellite interferences and improve the quality of satellite communications satcom. Its satellite network management solutions are able to detect and remove satellite signal interferences in an increasingly dense satellite space. As more satellites are launched in the coming years to meet the exponentially growing demand for connectivity in smart cities there will be a significant increase in demand for anti-jam capabilities. Glowlinks products span carrier and spectrum monitoring interference detection and mitigation geolocation and satellite capacity planning which will augment iDirectGovs advanced bandwidth-efficient scalable and highly secure satellite solutions.This acquisition builds off the strengths of both teams to expand our satcom offerings with technology tailored to protect mission-critical communications especially in an increasingly dense signal environment with the advent of many small satellites and 5G. The complementary product suite provides immediate benefit to iDirectGovs user community as it enhances product resilience against signal interference said Ravinder Singh President of Electronics sector ST Engineering.Complementary Fit to ST Engineerings High-Growth Satcom BusinessRadio frequency interference in satcom is a growing concern for military and commercial users alike. Glowlinks patented Communication Signal Interference Removal CSIR algorithm provides real-time isolation and removal of satellite interferences. It delivers an effective and robust solution that does not require additional bandwidth compared to existing technologies which helps customers save costs while overcoming interference threats.The acquisition also offers opportunities to leverage market adjacencies by harnessing Glowlinks advanced technologies to deliver add-on features in ST Engineerings existing satcom products and solutions for commercial customers.This acquisition of Glowlink is timely as it complements the proposed acquisition of Newtec Group NV announced on 27 March 2019. These acquisitions align with ST Engineerings strategy to enhance its core satcom business and strengthen its position as a leading global satcom business group.
