Brokers' take
Add BT as a preferred sourceST Engineering I BUY (upgraded) Sept 18 close: S$3.96 Target price: S$4.34 UOB Kay Hian Research, Sept 18
Six months after acquiring Newtec for S$383 million, ST Engineering (STE) has made yet another satellite communications (satcom) acquisition - Glowlink Communications Technology (Glowlink) - via its US subsidiary I-Direct.
Newtec is currently focused on supporting IP-based satellite broadcast for real-time content distribution, and Glowlink's anti-jamming capabilities will likely be integrated to advance Newtec's product offering to customers such as Space X, One Web, Telesat, LeoSat etc. In addition, STE will be able to offer satellite connectivity options for defence, utility and smart cities, with enhanced security features.
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