KIRKLAND, Washington, United States—ICO Global announced it has reached final agreement on its merger with New ICO Global Communications.
ICO Global, previously known as ICO-Teledesic Global, also has agreed with Teledesic to end their proposed merger to allow both companies the greatest flexibility in the current economic environment.
“To maintain maximum flexibility in this market, it is prudent to keep ICO and Teledesic independent as the needs for satellite services continue to evolve in the changing international landscape,” said Craig McCaw, founder of ICO Global.
Both ICO and Teledesic will continue to pursue their independent business plans, the company said. It is still possible that a merger between the two companies may be re-evaluated in the future.
