Consolidation returns to maritime satcoms space with Castor Marine acquisition

Greek maritime satellite communications provider Navarino Group has acquired 100% of the shares of Dutch competitor Castor Marine to increase its market share and enter new sectors.

Both are thriving businesses with strong growth trajectories, which provide satellite communications through technologies including very small aperture terminals (VSAT), low Earth orbit (LEO) satellites and long-term evolution (LTE) 4G and 5G cellular networks.

They offer tailor-made technology and connectivity solutions to hundreds of ships in various sectors within the industry. Castor Marine will continue to operate independently within the Navarino Group.

Key benefits of the deal include an expanded service portfolio, enhanced global presence and accelerated innovation, driving forward the digital transformation of the maritime industry.

“Castor Marine enables us to deliver even greater value to our customers,” said Navarino chief executive Dimitris Tsikopoulos. “Together, we can offer enhanced services and exceed the high standards our customers have come to expect of us.”