Stratos to buy BT properties

TORONTO-Stratos Global Corp. signed an agreement to acquire the Inmarsat, VSAT and aeronautical businesses of British Telecommunications plc for $227.8 million in cash, Stratos announced.

Stratos President and Chief Executive Officer Derek Woods said the transaction, expected to close later this year, expands the company’s geographic reach, gives it strong entry into the North Sea oil and gas market and adds to Stratos’ maritime capabilities.