Spacecom has recently secured a $38m extension on a services contract from Israel's government and a $6m contract from a mobile operator in Africa.
Israeli fleet operator Spacecom has signed a two-year extension deal with DBS Satellite Services, operator of Yes DTH in Israel. The deal, worth USD 14m, will continue the DTH’s operations from the Amos-7 and Amos-3 satellites at Spacecom’s 4 degrees West orbital hotspot. Furthermore, with this agreement, Yes’ order backlog increases to $100m.
The agreement with Yes has an additional two potential extensions of six-months each, starting at the end date of the new agreement. If realised, they will result in an additional $7m of revenue for Spacecom.
Spacecom has also reported the extension of its lease agreement with Hong Kong-based AsiaSat, the owner of the Amos-7 satellite, for an additional two years until 2024. The annual new and reduced lease fee is $14m.
Spacecom said it has recently secured a $38m extension of a services contract from Israels government and a $6m contract from a mobile operator in Africa.
Commenting on the extension, Dan Zajicek, CEO of Spacecom, said: “Signing this two-year extension with Yes allows them to simultaneously use both Amos-3 and Amos-7 and continues the recent positive momentum accelerating Spacecom’s development. This includes significant deals such as our investment in Canadas NuRAN Wireless and the approximately $9m extension of services agreement on Amos-3 with Magyar Telekom, from the Deutsche Telekom group.”
Hungarian information technology and telecommunications company 4iG Plc. is currently in negotiations to take a majority 51% stake in Spacecom.