Satellite Communication Equipment Maker News

Thrane & Thrane Buys Nera's Satellite Units

Danish satellite communication equipment maker Thrane & Thrane said on Monday it bought the satellite units of Norwegian Nera for around half a billion Danish crowns ($61.5 million), sending its shares to a four-month high. For the two units Nera SatCom and Nera WBA Satellite, Thrane & Thrane will pay 235 million crowns in cash and around three million new shares corresponding to around 40 percent of Thrane's total capital after a share capital increase. "The intention is to create a leading manufacturer within satellite ground equipment with the strength to participate in both the mobile and the broadband market segments," Thrane said in a statement.