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TELEGLOBE AND STRATOS REACH AGREEMENT

NEW YORK-Teleglobe Inc., Montreal, has been on the move in a big way lately.

The company announced July 6 it has so far provided 100 Global System for Mobile communications network operators with worldwide signaling conversion services, which allow their personal communications services customers to make and receive calls while roaming outside their home countries.

Developed in partnership with Swisscom, the Teleglobe Globe PCS roaming capability now has a customer base comprising more than 69 million end-users, or 90 percent of the total GSM subscriber base.

Teleglobe’s network also includes submarine cable and satellite facilities linking North America with more than 240 countries and territories.

Teleglobe and Stratos Global Corp., Toronto, reached an agreement June 30 under which Stratos will pay $82.1 million to acquire Teleglobe Canada’s Inmarsat mobile satellite communications service business.

The transaction, which is expected to close Sept. 1, is subject to various regulatory approvals. These include that of Industry Canada concerning the replacement of Teleglobe by Stratos Global as the Canadian signatory for Inmarsat.

“Stratos Global’s expertise in the management of mobile satellite assets, coupled with our existing commercial relationship with them, convinced us that Stratos was the right purchaser for our Inmarsat assets. [This] is Stratos’ core business and primary focus,” said Andre Bourbonnais, Teleglobe’s vice president of legal affairs.

As part of their agreement, Stratos Global also will acquire Teleglobe Canada’s 29 percent interest in Stratos Wireless Inc.

“With Stratos Wireless becoming our wholly owned subsidiary, this acquisition now paves the way for our involvement in Inmarsat’s future privatization plans next year,” said Derrick Rowe, chairman and chief executive officer of Stratos Global.

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