SES has finalized its $3.1 billion acquisition of rival satellite operator Intelsat.

In doing so, European satellite firm SES said the acquisition has "created a global multi-orbit connectivity powerhouse."

It comes after the deal was signed off by European and US regulators.

The combination of the two companies will expand SES' fleet to 120 satellites across two orbits.

This is made up of approximately 90 geostationary (GEO), and nearly 30 medium earth orbit (MEO) satellites, alongside its access to low earth orbit (LEO) satellites and an extensive ground network.

SES noted that it can provide connectivity solutions utilizing complementary spectrum bands including C-, Ku-, Ka-, Military Ka-, X-band, and Ultra High Frequency.

“Today, we’re not just merging two companies - we’re creating a stronger company, built for the future. I want to extend a warm welcome to all new employees, customers, and partners,” said Adel Al-Saleh, CEO of SES.

“In this new chapter, we are bringing together a powerful mix of talented people, network infrastructure, spectrum, innovation, and global relationships that will allow us to deliver next-generation connectivity and space-enabled services in smarter and quicker ways.”

The acquisition was first announced in April of last year. Prior to this, Intelsat and SES had held merger discussions for several months over 2023, but couldn’t come to an agreement and ended talks in June of that year. Intelsat had reportedly been the one to pull the plug on discussions.

SES said it expects to deliver synergies of €2.4 billion ($2.79bn), of which 70 percent are expected in the first three years.

The company said these savings will come through the streamlining of operations, optimized capacity costs, and procurement efficiencies, along with the strategic integration of satellite fleets and ground infrastructure.

“Our focus is clear: to grow, to lead in high-potential markets, and to shape the future of our industry. This is a long-term play, and we are building with the future in mind -- growing year after year, expanding our capabilities, and creating lasting value for our customers and shareholders alike,” Al-Saleh said.

It is the latest in a series of mergers in the satellite space; Eutelsat acquired Low Earth Orbit (LEO) operator OneWeb, while Viasat and Inmarsat’s merger also closed in 2023.

Intelsat was founded by the US government in 1961, operating as an intergovernmental consortium until it was privatized in 2001. SES was founded in 1985 by the Luxembourgish government.

Earlier this year, SES announced plans to invest in ‘cell tower in space’ satellite firm Lynk Global, in which Intelsat is already an investor.