Luxembourg’s incumbent postal and telecommunications operator P&T Luxembourg has acquired a 50% stake in Global Sky Park, a German shareholder and management holding company in satellite communications start-ups.
Financial details were not…
Luxembourg’s incumbent postal and telecommunications operator P&T Luxembourg has acquired a 50% stake in Global Sky Park, a German shareholder and management holding company in satellite communications start-ups.
Financial details were not disclosed.
P&T, which made the investment through its P&T Capital fund, stated that the transaction will give it a direct participation in satellite communication solutions specialist EuroSkyPark (ESP).
Global Sky Park owns 49% of the company with regional German internet service provider VSE Net the majority shareholder.
Founded in 2005, ESP provides global satellite communications services to the power generation and energy supply sectors. The company provides these services via SES’ ASTRA2Connect-broadband product.
According to a statement, P&T Capital beat both British and French investors in the bidding process for Global Sky Park. The Luxembourgish company stated that the transaction is in line with its strategy of making carefully targeted investments in enterprises focused on the data communication and data processing fields.
P&T has been active in the satellite field for more than 20 years particularly through the satellite uplink services of its pan-European fibre optic broadband network Teralink. That business also resells capacity from Eutelsat.
P&T Luxembourg was not available for comment at the time of going to press.
