Inmarsat has acquired Segovia, Inc., a Virginia-based provider of secure internet protocol managed solutions and services to the US military and government agencies.

The satellite communications services group will pay an initial $110m plus performance-based amounts. It expects to finance the transaction from current liquidity.

For the year to December 2008, Segovia reported total revenue of $67m and net income of $18m.

The current Segovia management will operate it as a separate business.

Story provided by Business Financial Newswire