Telenor Acquires Norse Technology Sat Business

Wednesday, August 23, 2006
Telenor Satellite Services, a subsidiary of Telenor of Norway, has purchased the satellite communications activities of Norse Technology AS and additionally has acquired the majority of stock in Norwegian-based Norse Electronics AS.

With this purchase, Telenor Satellite Services intends to re-establish Norse Electronics AS as the leading integrator of communications services for the Oil & Offshore industry. The acquisition of Norse Electronics also serves to enhance Telenor Satellite Services’ capabilities to deliver complete communications packages and services for the Oil & Offshore market as well as the maritime transportation industry. Norse Electronics will form part of the Customized Solutions business segment of Telenor Satellite Services, further strengthening the Sealink broadband maritime services offering.

“Located in Norway’s ‘oil capital’ of Stavanger, Norse Electronics has a long history and proven reputation of providing reliable communications services to the offshore and energy industry,” said Morten Tengs, chief executive officer of Telenor Satellite Services. “Adding Norse’s integration and installation capabilities along with our industry-leading Sealink broadband maritime services, and all located in very close proximity to our Eik global teleport facility, is a formidable combination that will allow us to deliver faster equipment installation, tailored and customized configurations, and complete around-the-clock service and support for global and regional customers.”

The addition of Norse Electronics strengthens Telenor’s position to successfully compete for communications contracts on board transport vessels and at fixed sites at sea and processing facilities on shore.

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