A Reuters report says that Hughes Communications' primary owner Apollo has hired Barclays Capital to advise on how to sell the company. Hughes sells broadband satellite services to support high-speed Internet, video conferencing and VoIP to a customer base that includes Wal-Mart, General Motors and Best Buy.
Elsewhere in the world of telecommunications high finance, Suddenlink Communications has closed a private offering of $625 million, most of which will be used to fund the $350 million acquisition of NPG Cable. The successful round is "a testament to the value of our investments in customer service and the overall soundness of our business strategy," Chairman-CEO Jerry Kent said in a news release.
And finally, the ever-shifting market even includes the Great White North where broadband communications products provider Norsat International is acquiring Sinclair Technologies Holdings Inc., a leading provider of antenna and RF conditioning products (and not to be confused with Sinclair Broadcast Group, a television stations owner and thorn in Time Warner Cable's side) for $19.25 million.
Hughes Communications tops Technology Fast 500; FBI's Sentinel program may be in jeopardy
Hughes debuts broadband VoIP service
Suddenlink buys NPG Cable for $350 million