Satlink is strengthening its position in the marine technology solutions market with the acquisition of Canadian comms provider, Xeos Technologies.
Through this acquisition, it said it will be better able to act as a strategic provider of high value-added technology for the marine market.
“We are very excited to integrate Xeos and welcome the team onboard, with whom we share the same vision for the future: relentless innovation, commitment to quality, and improving ocean knowledge and sustainability through technology. That’s where we want to make the difference,” said Faustino Velasco, founder and chairman of Satlink.
Strategic move
Xeos has 20 years of experience in providing specialised asset-tracking solutions and communication services for high-value devices operating under harsh maritime environments and the oceanographic field.
The acquisition will help increase Satlink’s presence in North America with a new office in Canada, complimenting its existing locations in Spain, Korea, Taiwan, Seychelles, Ecuador and Fiji.
In addition, Xeos’ founders and management team will reinvest into Satlink, further strengthening the partnership and future strategic vision. Terms of the deal have not been disclosed.
“The agreement with Satlink represents an important recognition for the work done since the company’s foundation,” said Derek Inglis, co-founder and president of Xeos.
“We believe Satlink is the perfect partner for Xeos and will allow the company to accelerate its international expansion while enhancing the current product portfolio, fostering even more innovative solutions and accordingly, bringing Xeos to the next level.”
Satlink has over 7,500 clients including governments, maritime regulators and fisheries and exports its products and solutions to more than 90 countries.
