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Two major players in the satellite capacity business are reportedly up for sale. Trade magazine Space News is reporting that Harris Corp’s CapRock maritime services business has been placed on the sale forecourt. Much the same is said of Globecomm.
Space News says that Harris is anticipating a 25 per cent fall in its business revenues this year, and this follows a similar collapse in revenues in 2015. The reason is competition in the sector, industry contraction and to a certain extent excess of capacity.
Harris bought CapRock in 2020 for $525 million.
Globecomm is owned by private equity investor Wasserstein, which paid $340 million for the company in 2013.