Singapore Technologies Engineering (ST Engineering) has announced that further to its announcement made on March 27, 2019, its subsidiary Singapore Technologies Engineering (Europe) has completed the acquisition of a 100% ownership in Newtec Group NV (Newtec) following the fulfilment of completion conditions, including the receipt of applicable regulatory approvals.
This Newtec acquisition, together with the recent acquisition of Glowlink Communications Technology, which possesses advanced satellite communications anti-jamming technology, will enable ST Engineering to harness their unique capabilities to create a highly differentiated global satcom business group. ST Engineering is now in a stronger position to lead in innovation and the transformation of the satcom industry to enable Smart Cities globally.
To drive higher brand visibility, Newtec will be renamed as ST Engineering iDirect (Europe) NV.
