Continuing to exercise its considerable appetite for growth through acquisition, Singapore Technologies Engineering (STE) announced on 1 October that it has completed the process begun on 27 March to acquire 100% ownership in Newtec Group NV, headquartered in Belgium. The transaction was conducted through subsidiary company Singapore Technologies Engineering (Europe) Limited: completion follows the fulfilment of relevant conditions, including the receipt of applicable regulatory approvals.
Seen in conjunction with the recent acquisition of Glowlink Communications Technology, Inc, which possesses advanced satellite communications anti-jamming technology, the addition of Newtec will enable STE to harness their unique capabilities to create a highly differentiated global satcom business group. STE is now in a stronger position to lead in innovation and the transformation of the satcom industry and to enable Smart Cities globally.
To drive higher brand visibility, Newtec will be renamed as ST Engineering iDirect (Europe) NV with effect from 3 October. A statement on the company’s website on 1 October reveals more detail on the integration process and intent.
“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 […] 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.
As we integrate, we will make decisions in our combined customers’ best interests based on these priorities:
• Commitment to converged technologies and unified roadmap. We will maintain the two product brands, iDirect and Newtec, during our integration phase. As we work towards a unified technology strategy and product offering, we will consult with you to determine the best product fit for your future needs.
• An enhanced and integrated product portfolio. We are combining best-in-breed technologies – iDirect’s unparalleled networking and mobility features with Newtec’s ground-breaking innovations in performance and efficiency – and will offer converged technologies that will lead our industry forward and deliver the best possible solutions to the market.
• Customer investment prioritized. Many of you utilize both iDirect and Newtec platforms, which delivered the best technology for your applications. Your investments will be prioritized to ensure the most optimal path for you so that you realize the benefits of the combined entity with minimal operational disruption.
• Expanded access to accelerate your growth. You will gain access to a partner that offers you the scale you require to succeed in this transforming market; one with a wider breadth of integrated capabilities and offerings that can proactively anticipate and better meet your needs across multiple market segments.
• Quicker time to market with new innovation. With our combined strengths, scale, common vision and focused approach, we will be able to accelerate our time to market and deliver solutions to you in the time frame that a transforming industry demands.
This is a pivotal time in our future and in yours. As we become a united force in the market, we are thrilled to share our journey and our future success with you.”