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EADS has agreed to a $960 million deal by its space subsidiary, Astrium, to buy satellite communications provider Vizada as part of its drive to diversify into business services and expand in the US market.
“Astrium has entered into an agreement to acquire Vizada from Apax France, a French private equity fund and the majority shareholder for $960 million,” EADS said in a statement.
Vizada provides global communication services by packaging telecommunications capacity from commercial satellite operators for use by industry, government and non-governmental organisations.