YAHSAT SET TO ACQUIRE STAKE IN UAE-BASED SATELLITE OPERATOR THURAYA
- Yahsat signs an agreement to purchase a majority stake in Thuraya to create a global powerhouse in fixed and mobile satellite services
- The acquisition will further expand Yahsat’s satellite solutions portfolio and provide the platform necessary to explore the potential growth opportunities that Thuraya brings
- The acquisition further enhances the UAE’s position as a key player in the global space industry
Abu Dhabi, UAE, 26 April 2018: Today, Yahsat, a leading satellite operator based in the United Arab Emirates (UAE), has entered into an agreement to acquire a majority stake in the mobile satellite services operator Thuraya, also based in the UAE, subject to final pre-closing conditions being met.
The acquisition of the UAE’s first home grown satellite operator, Thuraya, will significantly expand Yahsat’s current satellite solutions portfolio for both commercial and government verticals, as well as its global footprint.
The acquisition will set Yahsat on a new phase of growth, with Thuraya bringing 20 years of innovation and experience in the mobile satellite services market along with a rich portfolio of products and services complimented by a renowned brand.
Thuraya’s two satellites, serving over 140 countries, will join the Yahsat fleet, expanding the group’s satellite fleet to five. The combination of geostationary satellites operating in the C, Ka, Ku and L-bands will jointly cover Europe, Africa, the Middle East, South America, and Asia, providing a broad range of Fixed and Mobile Satellite Services spanning voice and data communications to both commercial and government sectors.
The transaction is expected to close after customary conditions have been met and regulatory approvals have been obtained. The tender process will start shortly to offer current shareholders the option to participate in this sale.
Yahsat is a leading global satellite operator, providing multipurpose satellite solutions for broadband, broadcast, government and communications use across the Middle East, Africa, Europe, and Central and South West Asia. Headquartered in Abu Dhabi, UAE, and wholly owned by Mubadala Investment Company, the investment vehicle of the Government of Abu Dhabi, Yahsat is the first company in the Middle East and Africa to offer Ka-band services including YahClick, Yahsat Government Solutions, YahLink and Yahlive via its Al Yah 1 and Al Yah 2 satellites. With the recent launch of Al Yah 3, Yahsat’s commercial Ka-band coverage will be extended to an additional 20 markets, reaching 60% of Africa’s population and over 95% of Brazil’s population. For more information, visit www.yahsat.ae
Press Contact: James Gilheany +971565048817
About Thuraya Telecommunications Company
Thuraya Telecommunications Company is an industry leading MSS operator and a global telecommunication provider offering innovative communications solutions to a variety of sectors including energy, broadcast media, maritime, military and humanitarian NGO. Thuraya’s superior network enables clear communications and uninterrupted coverage across two thirds of the globe by satellite and across the whole planet through its unique GSM roaming capabilities. The company’s diverse range of technologically superior and highly reliable mobile satellite handsets and broadband devices provide ease of use, value, quality and efficiency. Thuraya remains committed to serving humanity through delivering the essential tools for optimal connectivity, never leaving anyone out of reach. Visit www.thuraya.com