Inmarsat plc (LSE: ISAT) has acquired the business and assets of Segovia, Inc. Based in Herndon, Virginia, Segovia is a provider of secure Internet protocol managed solutions and services to the United States Army and other U.S. military services and government agencies.

Segovia’s expertise in designing, deploying and operating mixed satellite and terrestrial networks in the military’s challenging deployment and training environments, coupled with its secure, dedicated IP network infrastructure, have placed it at the center of the Department of Defense’s (DoD) transformation and modernization initiatives. The trend within the DoD towards end-to-end solution acquisition versus piecemeal component acquisition is expected to drive demand for Segovia’s managed solutions and services in the coming years. Inmarsat will pay an initial consideration of US$110 million and may pay additional amounts depending on future performance over the next three years. Inmarsat expects to finance the transaction from current available liquidity. For the year ended 31 December 2008, Segovia reported total revenue of US$67 million and net income of US$18 million and had gross assets of US$29 million. After the transaction closes, which is expected in early 2010, current Segovia executive management will operate Segovia as a separate business reporting to Jim Parm, President and CEO of Stratos, Inmarsat’s direct distribution business.