In its first major satellite investment in Asia, British private equity concern Permira teamed up on Monday with the management of Asia Broadcast Satellite (ABS) to buy out the majority shareholders of ABS in a deal valued at US$200 million. Founded three years ago, ABS has emerged as a key supplier of bandwidth to 80 broadcast and telecommunications customers in 30 countries and is viewed as one of the fastest growing satellite operators in the world. ABS also operates three satellites under its own name brand and a fourth co-branded spacecraft that, together, target key markets in Asia, Russia, Africa and the Middle East and cover 80% of the world’s population. Owing to Permira’s previous investments in Intelsat and Inmarsat, Monday’s transaction would put ABS under the control of a firm with extensive experience in the field of satellite telecommunications. Although terms of the deal were not disclosed, Permira and the ABS management team have agreed to purchase shares in Kingbridge—the holding company that controls ABS—from Citi Venture Capital International, Asia Debt Management Capital, and other shareholders. The transaction would leave Permira in control of ABS, although the exact size of Permira’s stake is unknown. The deal also constitutes Permira’s third acquisition in Asia since 2007. Asserting that Permira “understands the industry and its immense opportunities,” ABS CEO Thomas Choi touted Permira as “the obvious choice as we embark on our next stage of development.”