Michael Cook BA (Hons) FCA
- Partner, Head of Audit and Financial Reporting
- +44 (0)330 124 1399
- Email Michael[email protected]
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The satellite broadcast industry is a global business. It is led by media and technology giants delivering content and data into millions of homes around the world.
Many of these broadcasters rely on the technology developed and provided by Global Invacom, a worldwide leader in satellite broadcast solutions. If you have a Sky dish sitting on the outside of your home or office, watched TV or streamed content at The Shard in London or at Windsor Castle, it has been made possible because of the technology developed by Global Invacom.
Global Invacom is jointly headquartered in the UK and Singapore and holds a dual listing on the Singapore Exchange and the London AIM market, employing 1,000 people around the world and with a turnover of $130m. It holds a unique and enviable position in the satellite technology industry being the only company in the world that offers satellite ground equipment technology solutions bridging both broadcast and data providers.
“Global Invacom is at the very heart of today’s distribution networks,” explains Matt Garner, Chief Financial Officer. “From the satellite dishes that sit on the side of a building, transmitters and switch technology, fibre networks, video distribution and complex electronics manufacturing, we will be involved and leading the market.”
It is a market that is constantly changing, driven by new technology, changing viewer demands and, of course, global politics, and that has shaped the way Global Invacom has grown its own business internationally.
“We have grown largely through acquisition,” says Matt, “acquiring the expertise, relationships and technology needed to continue to meet customer demands and develop new technology. Today, we have business operations in UK, Israel, Malaysia, Singapore, China, the US and the Philippines.”
But those positions are under constant review. Manufacturing has, for example, traditionally sat in China, but as costs have increased the company is moving its manufacturing to the Philippines.
“Global demand for components from broadcast and data companies is growing year on year and that can present us with some very real challenges,” explains Matt. “We need to not only keep an eye on costs, but on quality and on security of supply. Building strong relationships with manufacturers in locations where the skills are there is critical.”
Another challenge facing Global Invacom has been its ability to attract talented engineers across the globe.
“Our products involve complex electronic engineering and we need talented engineers across all our locations,” says Matthew. “Yet the demand from and the perceived glamour of digital businesses against RF (Radio Frequency) has made recruitment that much harder.”
“Our widely diversified graduates are given a high degree of autonomy very quickly, together with the ability to travel the world. We have a terrific team of people, but it is inevitable that we will lose some of them to much larger businesses. It is something we plan for, but which is still frustrating. Flexible, business-orientated immigration policies that give us the ability to recruit from anywhere in the world would be desirable.”
Government policy in the UK, such as R&D tax credits and Patent Box, and similar measures in other jurisdictions have helped Global Invacom grow and develop its business in the UK and around the world, but there is more the UK government could do.
“Manufacturing in the UK doesn’t get the support it needs to compete on the global stage,” says Matt, “yet we have a terrific reputation for developing great people and ideas. It would be really beneficial if the government were able to provide further grants for the development of technology and further tax advantages to support high value manufacturers as they grow into global businesses.”
“Global Invacom has worked with Kreston Reeves for only 2 years and they are providing a range of audit and advisory support.” Says Matt. “Michael Cook and his team came in at short notice to a multi-site, multi-country audit reporting to a mainboard listed Group in Singapore. They quickly built a good understanding of our business and sector and we are delighted to have them as part of the Global Invacom team.”
"Global Invacom has worked with Kreston Reeves for only 2 years and they are providing a range of audit and advisory support. Michael Cook and his team came in at short notice to a multi-site, multi-country audit reporting to a mainboard listed Group in Singapore. They quickly built a good understanding of our business and sector and we delighted to have them as part of the Global Invacom team."
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