Telenor Satellite Services Purchases Leading Equipment Provider Neratek; Telenor to Integrate Neratek into its Marlink Retail Operations.OSLO, Norway & ROCKVILLE, Md. -- Telenor Satellite Services, a subsidiary of Norwegian telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. corporation Telenor ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and , listed on the Oslo Stock Exchange Oslo Stock Exchange An exchange founded in 1819 and trading stocks, bonds, and stock options that is considered the options market of Norway. (TEL TEL Telephone TEL Telegram TEL Telugu (langauge) TEL Terrorist Exclusion List TEL Technology-Enhanced Learning TEL Transporter-Erector-Launcher TEL Tetra-Ethyl Lead TEL Team Deutsche Telekom ) and NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on (TELN), announced today the acquisition of Neratek AS, a leading Norwegian provider of land mobile and maritime satellite communications equipment and services. Telenor Satellite Services acquired Neratek from its two founding shareholders and a subsidiary of communications equipment manufacturer, Nera SatCom AS. Telenor Satellite Services plans to incorporate Neratek's operations with the operations of its global satellite services retail organization, Marlink. This combined business is intended to solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. the company's market position while extending the variety of airtime air·time n. 1. The time during which a radio or television station is broadcasting. Also called airspace. 2. The time at which a radio or television program is broadcast. , equipment, and exclusive communication services offered by Marlink. "This acquisition further strengthens Telenor Satellite Services' position in the retail marketplace for satellite communications by incorporating a well-established and high quality equipment distribution business into the company's worldwide portfolio of communications services via satellite," said Tore Hilde, chief executive officer of Telenor Satellite Services. Neratek AS was established in 1985 as Ratek AS and supplied communications and navigation equipment mainly to the Norwegian fleet. In 1997, Nera SatCom AS purchased 45 percent of the shares of the company and the name was changed to Neratek. "Neratek currently serves a significant portion of both the Norwegian and Nordic maritime markets and is the preferred provider of Nera communications equipment throughout the region," said Tom Strandberg, General Manager of Neratek. "With the acquisition of Neratek, Telenor Satellite Services will continue to increase its position in the land and maritime mobile satellite service markets by combining the capabilities of two well-established companies." |
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