British mobile satellite communications company Inmarsat PLC has received a cash takeover offer from a private equity-led consortium.

The consortium includes British private equity investment firm Apax Partners, U.S. peer Warburg Pincus and investment management firm Canada Pension Plan Investment Board.

The firms offered $7.21 per share, a transaction that will value Inmarsat at around $3.3 billion and take the company private.

Annually, Inmarsat generates approximately $1.4 billion in revenue.