Globetech AS, a majority-owned subsidiary of Nekkar ASA, has acquired 60 percent of the shares in Satco AS, a Norwegian supplier of maritime communication, navigation and CCTV systems. Globetech will acquire the remaining 40 percent of the company in 2029.
Satco was founded in 2008 and is based in Sandnes, Norway. The company delivers communication and navigation equipment, satellite connectivity and CCTV systems to the offshore and shipping markets, and combines product supply with engineering, installation and system integration. In 2025 Satco had revenues of NOK 45 million and a profit before tax of NOK 12 million.
The acquisition brings together Satco’s product and installation capability with Globetech’s operations, monitoring, 24/7 support and lifecycle management services. The two companies will develop a combined managed connectivity offering in which Satco’s satellite antennas are bundled with Globetech’s GTX network management unit and managed IT services and delivered to customers as a single ongoing service rather than as separate products. A second joint priority is complete CCTV system deliveries with complementary service agreements.
While the purchase price is not disclosed, it is highly accretive and structured to de-risk the acquisition with payments in two tranches. The acquisition is funded by Globetech from available cash. The remaining 40 percent will be acquired in 2029 based on realised earnings in the period to 2029. Satco will be consolidated into the Globetech and Nekkar group accounts from the date of completion.
The transaction is Globetech’s second add-on acquisition, following the acquisition of Firstpoint in Poland during 2025. Globetech delivered revenues of NOK 104 million in 2025 with an EBITDA margin of 22 percent and manages more than 215 contracted vessels.
“Satco brings products, technical depth and customer relationships that complement what we already do. Together we can offer shipowners one supplier for the equipment on board, the connectivity that runs through it and the operation and support that keeps it working,” says Hans Eirik Onarheim, CEO of Globetech.
"We continue to build Globetech as a platform for maritime ICT services, through organic growth supplemented by add-on acquisitions. Satco adds recurring revenue, a broad customer base and a strong product offering in a market where demand for managed connectivity continues to grow," says Ole Falk Hansen, CEO of Nekkar ASA.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Nekkar (OSE: NKR) is an industrial long-term owner of ocean-based technology companies. The company invests in and develops technology businesses within sustainable oceans, robotics and intelligent logistics, and digital solutions. With a 50-year industrial heritage from Syncrolift, Nekkar applies an active buy-to-own strategy to build long-term value. The group supports empowered operating companies with a strong balance sheet and reinvests strategically to ensure profitability and sustainable growth. As a publicly listed company, Nekkar has a proven track record of shareholder value creation through disciplined M&A, financial management, and capital allocation.