Investment firm CIP Canada plans to purchase Bethesda-based communications company Stratos Global Corp. for $576 million, paving the way for one of Stratos’ main suppliers to eventually buy the company.
Under the deal, Stratos Global would operate as an independent company until 2009, after which London-based Inmarsat Ltd. would have the option of buying the company, Stratos Chief Executive Officer and President Jim Parm said Monday during a conference call with investors.
Stratos sells a variety of communications solutions to clients, including those from satellite provider Inmarsat, which financed the CIP purchase through one of its subsidiaries.
“Such a relationship has the potential to create greater efficiencies in products and services,” Parm said during the call.
An Ontario court, regulatory authorities and Stratos shareholders must all approve the transaction, which is expected to close this month.
Stratos expects most of its current management team will remain intact if the purchase is approved, Parm said.
