 |
Home » News & Events » Latest News | |
| News & Events | ||
Latest NewsOctober 2009iDirect Acquires Remaining Shareholding In Singapore, 27 October 2009 — ST Electronics’ related US satellite communication company, VT iDirect, Inc. (iDirect), today announced that it has acquired the remaining 51% equity stake in Ximaera Technologies Canada, Inc. (Ximaera) through its wholly-owned subsidiary, VT iDirect, Inc. (iDirect). iDirect first acquired a 49% share in Ximaera in 2006. The remaining 51% stake has been acquired for a cash consideration of US$396,000. The purchase consideration was arrived at between iDirect and the shareholders on a willing buyer, willing seller basis. With the acquisition, Ximaera has become a wholly-owned subsidiary of iDirect and will be renamed VT iDirect Canada, Inc. This additional investment in Ximaera is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year. Ximaera has expertise in modem design and broadband IP transport down to the chip level design. The additional investment in Ximaera brings new capacity for research and development for the next generation remote Internet access system. The new organisation will provide iDirect additional resources to develop and integrate new transport technologies which will increase the platform’s network efficiency and flexibility.
iDirect is transforming the way the world gets and stays connected. The company’s satellite-based IP communications technology enables constant connectivity for voice, video and data applications in diverse and challenging environments. These include extending private networks to remote offices; supporting mobile connectivity across land, sea and air; providing rural telephony and Internet broadband; and maintaining communications in the wake of disasters and network failures. The iDirect Intelligent Platform™ integrates advanced technology into iDirect’s portfolio of hubs, routers and network management software to address the growing complexity of deploying and managing global IP networks. With more than 13 years of global satellite communications experience, iDirect serves customers in 50 countries through a diverse network of channel partners, including some of the largest satellite providers, operators and carriers in the world and seven of the World Teleport Association’s Global Top Ten. Headquartered in Herndon, Virginia, iDirect has offices in Europe, Asia, Middle East, Africa and Latin America. Please visit www.idirect.net. Media contact:Magdalen Loh
|
Use of this site constitutes acceptance of our Disclaimer.
