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Eutelsat Communications (Paris:ETL) has acquired NOORSAT, one of the
leading satellite service providers in the Middle East, from Bahrain’s
Orbit Holding Group.
Established in 2004, NOORSAT is the premier distributor of Eutelsat
capacity in the Middle East, serving blue-chip customers and providing
services for over 300 TV channels almost exclusively from Eutelsat’s
market-leading Middle East and North Africa neighbourhoods at 7/8° West
and 25.5° East.
The acquisition of NOORSAT fits with Eutelsat’s broader strategy of
streamlining distribution within selected core video neighbourhoods
where it can create value. It will allow Eutelsat to strengthen the long
term commercial development of its market-leading video positions in the
Arabic world and increase its direct access to end-customers,
facilitating stimulation of High Definition TV take-up and the upselling
of incremental video services.
Michel Azibert, Eutelsat Chief Commercial and Development Officer, said: “NOORSAT’s
capabilities and market knowledge will further consolidate our
longstanding position in the dynamic Middle East video market. By
integrating NOORSAT’s service platform and teams we are underlining our
commitment to serving customers in one of the key markets within in our
Eutelsat has acquired 100% of NOORSAT for a consideration of US$75
million, debt free and cash free. The acquisition will add upwards of
US$15 million to Eutelsat’s consolidated revenues on an annualised basis
after the elimination of the capacity leased by Eutelsat from NOORSAT.
Its slightly dilutive impact on Eutelsat’s EBITDA margin will be
absorbed within the current margin objectives.
About Eutelsat CommunicationsFounded in 1977, Eutelsat
Communications is one of the world's leading satellite operators. With a
global fleet of satellites and associated ground infrastructure,
Eutelsat enables clients across Video, Data, Government, Fixed and
Mobile Broadband markets to communicate effectively to their customers,
irrespective of their location. Over 6,600 television channels operated
by leading media groups are broadcast by Eutelsat to one billion viewers
equipped for DTH reception or connected to terrestrial networks.
Headquartered in Paris, with offices and teleports around the globe,
Eutelsat assembles 1,000 men and women from 32 countries who are
dedicated to delivering the highest quality of service. Eutelsat
Communications is listed on the Euronext Paris Stock Exchange (ticker:
ETL).For more about Eutelsat go to www.eutelsat.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20171013005187/en/
Eutelsat CommunicationsPressVanessa O’Connor,
Tel: + 33 1 53 98 37 firstname.lastname@example.orgMarie-Sophie
Ecuer, Tel: + 33 1 53 98 37 email@example.comInvestors
and analystsJoanna Darlington, Tel. : +33 1 53 98 35 firstname.lastname@example.orgCédric
Pugni, Tel. : +33 1 53 98 35 email@example.com