Globalsat acquires ST2 to grow in Peru
February 1, 2018
Mobile satellite company Globalsat has bought a majority stake in the Peruvian m-connectivity provider ST2 for an undisclosed amount. ST2 will add value to the group through its expertise in M2M and IoT networks.
The existing ST2 team will mostly remain intact and continue to hold a significant role in the company following the deal’s completion, and Globalsat's country manager for Peru Jack Yañez will assume the local leadership role at ST2, while also leading Globalsat Perú.
“By joining Globalsat Group, ST2 will now be able to offer its customers a wider portfolio of products and services and better serve them across the country,” said Yañez. “The ST2 experienced team will continue to deliver best-in-class services to ST2 customers while enhancing Globalsat’s expertise.”
The company will continue to use ST2 as its brand name and will add the complete Globalsat Group satellite services line to its portfolio for the Peruvian B2B market, while Globalsat Perú will be the brand for the group’s B2C local presence.
As part of the Globalsat mesh network structure, ST2 will add value to the group by incrementing expertise and product development for corporate, maritime and rural telephony, internet and M2M and IoT networks, and VSat, as well as increasing and streamlining market access in Peru and neighbouring countries for partners such as Inmarsat, Iridium, Cobham, Hughes and Orbcomm.
Current and future customers in Peru should benefit from Globalsat’s roster of experts, services, brands and turnkey services, and will be able to access the advantages of being served by a multi-country wholesale vendor and Inmarsat tier-one distribution partner Iridium Value
“This deal brings into place an important piece of the Globalsat Group presence map,” said Globalsat Group CEO J Alberto Palacios. “Our friends at ST2 were exactly the shape to fit right into the group, and this deal will allow our shared vision to provide Peru with the excellence which has made our brand a synonym of state-of-the-art satellite service in neighbouring Brazil, Chile and Colombia. The ST2 team has an unsurpassed understanding of the local B2B market and together with our international team will continue to raise the bar of MSS and FSS (fixed satellite service) in the region.”
Funded in 1999, Globalsat Group was the first pan-American mobile satellite service (MSS) consortium and a provider of voice, data, M2M, IoT, software and hardware development throughout the western hemisphere.
The group has offices in the USA, Argentina, Bolivia, Brazil, Chile, Colombia, Peru and Mexico as well as distributors in the most important cities in the region.
Founded in 1997, ST2 is a VSat provider serving businesses nationwide in Peru.