Bigblu Broadband plc on the proposed sale of its UK and European satellite broadband operations
Torch Partners has acted as financial adviser to Bigblu Broadband plc (AIM:BBB) on the proposed sale of its EU and UK satellite broadband operations to Eutelsat S.A., subject to shareholder approval. The sale price represents a c.50% premium over the capital invested in developing the operation.
Bigblu Broadband plc is a leading provider of alternative super-fast broadband solutions for consumers and businesses unserved or underserved by fibre. Their portfolio of solutions include satellite, next generation fixed wireless and 4G/5G, delivering between 30 Mbps and 150 Mbps for consumers, and up to 1 Gbps for businesses.
For the financial year ended Nov-19, the UK and EU satellite broadband operations accounted for 49,000 customers generating unaudited pro-forma revenue of c.£34.6m and unaudited adjusted pro forma EBITDA of c.£5.6m.
Eutelsat is one of the world's leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across the broadcast, data and professional video, government, fixed broadband and mobile connectivity markets to communicate effectively to end customers. By June 2020, Eutelsat had achieved consolidated revenues of c.€1.3bn and an EBITDA of €982m. It has a market capitalisation of c.€2bn.
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