Airbus Defence and Space sell off maritime satcoms business Marlink


Airbus Defence and Space is divesting its commercial satcoms business, including its maritime satcoms division and subsidiary Marlink.

The move is part of a corporate refocusing on “Space (Launchers & Satellites), Military Aircraft, Missiles and related Systems and Services as its future core businesses,” according to a statement released today. The decision was described as the "next logical step" following a 2013 group strategy review.

The news comes two years after the German government blocked a merger between Airbus, then EADS, and Britain’s BAE Systems. "Given the tight budgetary situations in our home countries and increasing competition on global markets, the portfolio review is an essential element to further develop our defence and space business and to ensure its competitiveness," said head of Airbus’ Defence and Space unit Bernard Gerwert in a statement.

"I want to make clear that this is not just about cutting more jobs or closing more sites, quite the contrary,” said Gerwert in an interview with Reuters. “We’re focusing on certain businesses and are looking for someone who’s willing to develop and invest in these businesses.”

Sale of the businesses, with combined annual revenues of EUR2bn ($2.6bn), is expected to generate between EUR1.5bn and EUR2bn, according to figures from one Wall Street Journal report.

While no buyers have been identified thus far, some analysts have identified satcoms giant Inmarsat - of whose services Airbus Defence and Space is a major provider - as one plausible candidate.

Source from : Seatrade Global