ST Engineering today announced that VT iDirect, Inc. (iDirect) has, through its wholly-owned subsidiary, iDirect UK, bought over Parallel Limited to boost its business that serves satellite service providers.
The 100% stake was acquired from existing shareholders, who are management employees, at GBP 3.9 million (about $9 million) to be fully paid in cash. iDirect is a wholly-owned subsidiary of Vision Technologies Systems, Inc. (VT Systems), the US headquarters of ST Engineering.
