NewSat Limited (NWT), Australia’s satellite company, announces the signing of a three year satellite capacity contract with TrustComm, Inc., a leading US based global communications provider, for the purchase of at least US$105 million and up to US$114 million of transmission capacity on the Jabiru-1 satellite. The commitment is for approximately US$28 million in the first year after launch and the balance over years two and three. The contract is another important step in the progression of NewSat’s Jabiru Satellite Project and validates the high level of market demand for the company’s Ka-band service offerings. The Jabiru-1 Ka-band satellite capacity purchased by TrustComm, Inc. will serve multiple high demand regions within the Middle East including Afghanistan, Iraq, Saudi Arabia, Yemen, Qatar and Pakistan.
In commenting on the multi-million dollar contract with TrustComm, Inc. Adrian Ballintine, NewSat Founder and CEO said: “This binding contract is another major step forward in our strategy to become a global leader of satellite services. It is tangible evidence of the step-change taking place in the NewSat business model as we move from being a reseller of satellite capacity to the owner of satellites. The Jabiru-1 satellite is the first of our fleet of geostationary satellites, and will be Australia’s first independently owned commercial satellite.”
NewSat Limited (NWT) is Australia’s largest specialist satellite communications company, delivering Internet, voice, data and video communications via satellite. With its unique-to- Australia Teleport infrastructure, NewSat provides a full range of managed satellite communication services and has established a reputation as the partner of choice for governments, corporations and private enterprises. Today, NewSat has the ability to provide coverage to 75% of the globe; from Australia, Asia, the Middle East, Africa, across the Indian Ocean extending into Europe and across the Pacific Ocean, reaching into the West coast of the USA. TrustComm is a global communications carrier providing managed, secure, broadband satellite; wireless; and terrestrial communication services to a range of government and enterprise clients.
http://www.traderdealer.com.au/fundamentals/nwt
Tags: acquisition, NewSat, NWT, Satellite phones, Telecommunications
Aside from this, they also got a new COO, space industry heavy weight Michael Hewins: http://www.cfoworld.com.au/news/534363/newsat-picks-a-new-coo/
http://www.newsat.com/Investors/asx-announcements.html