Globetech, a majority-owned subsidiary of Nekkar, has acquired 60% of Norwegian maritime communications and electronics supplier Satco, with the remaining 40% to be acquired in 2029.
Based in Sandnes, Satco supplies communications and navigation equipment, satellite connectivity and CCTV systems to the offshore and shipping markets, alongside engineering, installation and system integration services.
Satco generated NOK 45 million (approx. US$4.8m) in revenue and NOK 12m (approx. US$1.8m) in profit before tax in 2025.
The acquisition will combine Satco’s equipment and installation capabilities with Globetech’s monitoring, support and lifecycle management services.
The companies say they will develop a managed connectivity service combining Satco’s satellite antennas with Globetech’s GTX network management unit and managed IT services. A second focus will be the delivery of complete CCTV systems with service agreements.
The purchase price has not been disclosed. The acquisition is being funded from Globetech’s available cash, with the remaining 40% to be acquired in 2029 based on Satco’s realised earnings through the period.
Globetech manages more than 215 contracted vessels and generated NOK 104m (approx. US$11m) in revenue in 2025, with an EBITDA margin of 22%.
“Satco brings products, technical depth and customer relationships that complement what we already do. Together we can offer shipowners one supplier for the equipment on board, the connectivity that runs through it and the operation and support that keeps it working,” said Hans Eirik Onarheim, CEO of Globetech.
The acquisition is Globetech’s second add-on acquisition, following its purchase of Firstpoint in Poland in 2025.
