Chicago, IL – RCBG, a strategy and advisory firm specialized in TMT [telecom, media, technology], announced the acquisition by its client, ST Engineering (Singapore Technologies Engineering Limited), of the Newtec Group NV (Newtec), a leader in high-throughput satellite, broadband, mobility, and video distribution products and technology. The acquisition complements ST Engineering’s portfolio for satellite network operators, service providers, and commercial and government users with critical technologies and customer base.
The aggregate purchase consideration of €250m is on a cash-free and debt-free basis, subject to closing adjustments for net debt and debt-like items, and net working capital. The transaction is subject to customary regulatory approvals and is expected to close in the second-half of 2019.
RCBG served as strategic advisor to ST Engineering.