Newtec renamed as acquisition completed
Singapore Technologies Engineering Ltd (ST Engineering), parent company of iDirect, has announced that it has completed its acquisition of 100% of the shares in Newtec, closing a deal first announced in March 2019.
The company says that it will now rename Newtec as ST Engineering iDirect (Europe), effective immediately, with Newtec’s business to be integrated with the iDirect business division over the coming months.
“This bold move brings two satellite industry leaders together establishing a dynamic new powerhouse to serve your biggest ambitions. Our goal is to create the world’s most advanced satellite ground capabilities – uniting our technology heritage and passion for innovation – to deliver much more to you than we ever could before,” the company said, in a statement to customers.
“Now, as one combined business group, we will execute a streamlined process to fully integrate the two entities, covering business operations, sales and marketing, and the corresponding product portfolios, with the result being a unified go-to-market strategy and over time a converged technology offering.”
“Over the next 90 days we will conduct a joint deep dive into our combined products and technologies. This will enable us to identify the best offerings from both entities and options for leveraging them in ways that most effectively address our customers’ needs.”