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Saturday, April 13, 2024

KWM advises Hispasat on the acquisition of Axess Networks

King & Wood Mallesons has counselled Hispasat on the purchase of Axess Networks for €112 million

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Hispasat has reached an agreement to acquire Axess Networks, a teleport operator and satellite service provider with a presence in Latin America, Europe, the Middle East, and Africa.

The acquisition of Axess is part of the actions defined in Hispasat’s 2020-25 strategic plan, aimed at making the company a provider of satellite solutions and services in its target markets, and will enable it to grow especially in Latin America. The transaction represents a greater involvement of Hispasat in the managed services value chain.

This operation will allow the company controlled by Red Eléctrica to optimise its offer in segments such as the extension of cellular networks via satellite, connectivity networks for corporate clients, or the digitisation of remote areas in countries with wide technological gaps.

Axess has an infrastructure of teleports located in Germany, Mexico, and Colombia and other facilities in Peru, Chile, and Saudi Arabia.

Axess will keep the current management team and its way of operating. Its CEO, Mauricio Segovia, said in a press release that the integration into Hispasat “is a huge leap for the company, as it represents a great endorsement from one of the most relevant players in the industry and allows us to integrate and strengthen the joint value proposition towards our markets. With this operation, we become part of a leader that generates trends in the market and whose projects have a clear social background.”

The CEO of Hispasat, Miguel Ángel Panduro, also valued the transaction: “We are very satisfied with the agreement reached with Axess Networks, a move that responds to the increasingly necessary collaboration between industry players in order to meet the connectivity demands of society.”

King & Wood Mallesons team was led by Corporate partner Roberto Pomares and associate Rosa Chen. Javier Folguera, GC and Secretary of the Board, led Hispasat’s in-house team which counted on the support of legal counsel Pablo Bravo.

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