Investors Put $59 Million Into STM’s SkyOnline Unit

STM Wireless Inc.’s telecommunications services unit, SkyOnline Inc., will receive nearly $59 million in funding from a variety of investors, Irvine-based STM said Monday.

As a result of these transactions, STM’s stake in SkyOnline will be reduced to about 15% from 45%, STM said.

SkyOnline will receive $45 million in funding from a unit of Tractebel, a Brussels-based energy and services business, and Nouvel Investissement en Technologie, a Luxembourg-based technology investment group.

Existing SkyOnline shareholders, including STM, Pequot Capital Management and Remec Inc., agreed to invest $23.8 million, STM said. STM, a satellite communications company, will receive about $4 million to pay intercompany loans.

SkyOnline, a telecommunications service provider, will use the investment to expand its Latin American broadband wireless services.

In July, Remec and Pequot invested $14.6 million in the unit, then known as Direc-to-Phone International Inc., reducing STM’s stake from about 75% to about 45%.