Canada-based satellite operator Telesat has sold its Infosat Communications subsidiary which specialised in remote satellite services.Infosat has been acquired by Calgary-based Network Innovations, with some 300 employees, for an undisclosed sum. However, Telesat’s president & CEO Dan Goldberg had earlier hinted that it would raise about C$10 million (€6.67m) by selling a non-core division.Infosat is focused on providing connectivity via satellite to North America’s oil and gas producers as well as utility and maritime customers.The new buyer says the acquisition would greatly expand the company’s client base, particularly in Canada. More than half of Network Innovations clients are in the US, followed by Europe and Asian customers. The new purchase adds to the 2017 acquisition of Able Communications, based in Houston, Texas, which Network Innovations also bought from Telesat.Goldberg, in an August 14th presentation, had explained that its planned Lightspeed low Earth constellation of an initial 198 satellites would need overall investment of up to C$3.5 billion. The Lightspeed constellation is being built by Canada-based MDA.Telesat needs to raise about 46 per cent of the expected C$3.5 billion itself via the company’s own resources and borrowings. The rest will come from various government support including Canada’s Ontario federal government and the provincial government of Quebec.
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