SINGAPORE — In 2018, satellite ground terminal manufacturer Newtec, after several years of double-digit growth, decided it needed more heft given the changes in the business.

The initial idea was that a private-equity investor would fill the bill. Instead, Newtec agreed to its purchase by ST Engineering of Singapore.

ST Engineering’s purchase of Newtec, for $286 million — 2.7 times revenue and 14.6 times EBITDA: — is expected to close by the . . .

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