OSLO: 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, a statement said.
A growing maritime ICT platform
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, combining product supply with engineering, installation and system integration. In 2025, Satco reported revenues of NOK 45 million and a profit before tax of NOK 12 million.
The deal pairs Satco’s product and installation capabilities with Globetech’s operations, monitoring, 24/7 support and lifecycle management services. The two companies plan to develop a combined managed connectivity offering, bundling Satco’s satellite antennas with Globetech’s GTX network management unit and managed IT services, delivered to customers as a single ongoing service rather than as separate products. A second joint priority will be complete CCTV system deliveries paired with complementary service agreements.
Deal structure
The purchase price was not disclosed. Globetech said the transaction is highly accretive and structured to de-risk the acquisition through payments in two tranches. The deal is being funded from Globetech’s available cash. The remaining 40 percent stake will be acquired in 2029, based on earnings realized in the period leading up to that year. Satco will be consolidated into the Globetech and Nekkar group accounts from the date of completion.
Second add-on acquisition for Globetech
The transaction marks Globetech’s second add-on acquisition, following its purchase of Poland-based Firstpoint in 2025. Globetech reported 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,” said Hans Eirik Onarheim, CEO of Globetech. “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.”
Ole Falk Hansen, CEO of Nekkar ASA, said the acquisition fits the company’s broader growth strategy. “We continue to build Globetech as a platform for maritime ICT services, through organic growth supplemented by add-on acquisitions,” Hansen said. “Satco adds recurring revenue, a broad customer base and a strong product offering in a market where demand for managed connectivity continues to grow.”
About Nekkar ASA
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. Drawing on 50 years of industrial heritage from Syncrolift, Nekkar applies an active buy-to-own strategy to build long-term value. The group supports its operating companies with a strong balance sheet and reinvests strategically to ensure profitability and sustainable growth. As a publicly listed company, Nekkar has a track record of shareholder value creation through disciplined M&A, financial management and capital allocation.
