ICO Global, New ICO merge
Craig McCaw’s satellite holding company, ICO Global, and New ICO Global announced they have reached a final merger agreement. Previously known as ICO-Teledesic Global, ICO Global also has agreed to end its proposed merger with Teledesic.
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According to McCaw, it is "prudent" to keep ICO and Teledesic independent because the needs for satellite services are changing as the international business landscape evolves. In May 2000, ICO Global proposed the mergers of ICO and Teledesic with ICO Global.
ICO and Teledesic both intend to aggressively pursue their independent business plans. However, neither company has nixed the possibility that a merger might be re-evaluated in the future.
--Kelly Carroll, staff writer
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© 2012 Penton Media Inc.
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