Tuesday, May 10, 2016
Global Eagle Entertainment Acquires Emerging Markets Communications For $550M
Los Angeles-based inflight entertainment, wireless, and communications systems developer Global Eagle Entertainment is acquiring satellite communications services provider Emerging Markets Communications, the two said Monday, in a deal worth $550M in cash and stock. Global Eagle said it would pay $30M in cash plus 6.6 million shares of its stock for Emerging Markets Communications, which provides satellite-based communications services to the maritime industry, as well as for remote offices for companies, non governmental organizations (NGOs), and others in far flung locales. The two said EMC is expecting a projected $190-200M in revenues this year.