UPDATE March 29: This story was updated to include comments by customer Panasonic Avionics.
PARIS — ST Engineering’s proposed $286-million purchase of satcom ground hardware provider Newtec of Belgium is about as clear an endorsement of the promise of satcom in a 5G world as the satellite industry is likely to get.
Singapore-based ST, which already owns VT iDirect, is paying 14.6 times Newtec’s EBITDA for the year ending Sept. 30, and 2.7 times that year’s revenue . . .
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