NextPlat acquires connectivity solutions provider Outfitter Satellite

NextPlat acquired Outfitter Satellite through an all-cash transaction. The transaction is expected to close on April 1. Based in Nashville, Tennessee, for over two decades, Outfitter has provided consumers, commercial and government customers, with satellite-based connectivity solutions from brands including Iridium, Inmarsat and Globalstar. The accretive acquisition is expected to more than double NextPlat’s existing North American technology e-commerce product sales and recurring revenue. Furthermore, this transaction is expected to drive increased profitability through improved business efficiencies and shared resources while supporting future domestic operations and distribution utilizing Outfitter’s leased office and warehousing space. The company anticipates integrating Outfitters’ operations onto its global e-commerce platform.