Nekkar ASA: Globetech acquires maritime communication and electronics supplier Satco

3.8.2026 07:00:08 CEST | Nekkar ASA | Additional regulated information required
to be disclosed under the laws of a member state

Globetech AS, a majority-owned subsidiary of Nekkar ASA, has acquired 60 percent
of the shares in Satco AS, a Norwegian supplier of maritime communication,
navigation and CCTV systems. Globetech will acquire the remaining 40 percent of
the company in 2029.

Satco was founded in 2008 and is based in Sandnes, Norway. The company delivers
communication and navigation equipment, satellite connectivity and CCTV systems
to the offshore and shipping markets, and combines product supply with
engineering, installation and system integration. In 2025 Satco had revenues of
NOK 45 million and a profit before tax of NOK 12 million.

The acquisition brings together Satco's product and installation capability with
Globetech's operations, monitoring, 24/7 support and lifecycle management
services. The two companies will develop a combined managed connectivity
offering in which Satco's satellite antennas are bundled with Globetech's GTX
network management unit and managed IT services and delivered to customers as a
single ongoing service rather than as separate products. A second joint priority
is complete CCTV system deliveries with complementary service agreements.

While the purchase price is not disclosed, it is highly accretive and structured
to de-risk the acquisition with payments in two tranches. The acquisition is
funded by Globetech from available cash. The remaining 40 percent will be
acquired in 2029 based on realised earnings in the period to 2029. Satco will be
consolidated into the Globetech and Nekkar group accounts from the date of
completion.

The transaction is Globetech's second add-on acquisition, following the
acquisition of Firstpoint in Poland during 2025. Globetech delivered revenues of
NOK 104 million in 2025 with an EBITDA margin of 22 percent and manages more
than 215 contracted vessels.

"Satco brings products, technical depth and customer relationships that
complement what we already do. Together we can offer shipowners one supplier for
the equipment on board, the connectivity that runs through it and the operation
and support that keeps it working," says Hans Eirik Onarheim, CEO of Globetech.

"We continue to build Globetech as a platform for maritime ICT services, through
organic growth supplemented by add-on acquisitions. Satco adds recurring
revenue, a broad customer base and a strong product offering in a market where
demand for managed connectivity continues to grow," says Ole Falk Hansen, CEO of
Nekkar ASA.



DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

CONTACTS

 * Ole Falk Hansen, CEO, +47 988 14 184, ir@nekkar.com 

ABOUT NEKKAR ASA

Nekkar (OSE: NKR) is an industrial long-term owner of ocean-based technology
companies. The company invests in and develops technology businesses within
sustainable oceans, robotics and intelligent logistics, and digital solutions.
With a 50-year industrial heritage from Syncrolift, Nekkar applies an active
buy-to-own strategy to build long-term value. The group supports empowered
operating companies with a strong balance sheet and reinvests strategically to
ensure profitability and sustainable growth. As a publicly listed company,
Nekkar has a proven track record of shareholder value creation through
disciplined M&A, financial management, and capital allocation.
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