Private equity firm Apax France has sold its satellite communications business Vizada for $960m. The sale - the company’s third telecoms exit this year - comes as deal activity in the sector is set to match its best showing in nearly four years.

Vizada has been purchased by a subsidiary of the European Aeronautic Defence and Space Company, Astrium, which saw off competition from several rival bidders, according to a person familiar with the situation.

Apax France has sold satellite communications firm Vizada for $960m to a subsidiary of the European Aeronautic Defence and Space Company

Kiel Porter

European Aeronautic Defence

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