PARIS, Sept. 10, 2018 /PRNewswire/ -- Yahsat, a leading
global satellite operator based in the United Arab Emirates (UAE) and wholly owned by
Mubadala Investment Company, and Hughes Network Systems (HUGHES), a
subsidiary of EchoStar Corporation (NASDAQ: SATS), today announced
an agreement to enter into a joint venture to provide commercial
Ka-band satellite broadband services across Africa, the Middle
East and southwest Asia.
This new venture combines Hughes deep expertise as the global
leader in broadband satellite networks and services with Yahsat's
unique position and knowledge as the leader in satellite broadband
solutions across these regions. Hughes will purchase a minority
interest in the venture.
The new venture will continue to provide unserved and
underserved communities with reliable, high-speed Internet services
operating over Yahsat's Al Yah 2
(AY2) and Al Yah 3 (AY3) Ka-band
satellites, and leveraging the capabilities of the Hughes JUPITER™
System, designed and optimized for large-scale High-Throughput
Satellites (HTS). Hughes will also supply its proven Operating and
Business Support System (OSS/BSS) solutions for comprehensive
network operations and management.
Initially, the venture will focus on "direct-to-premise
services" to homes and small- to medium-sized enterprises, and to
community centers and schools that are served under local
government programs across these regions. In parallel, there will
be an increased focus on "community hotspot" solutions to make
satellite-enabled broadband more accessible to many more users
across the AY2 and AY3 footprint, which currently covers more than
1 billion people. In addition, the venture will also aim to
capitalize on the accelerating transition towards Ka-band based
backhaul and carrier solutions from mobile network operators.
Masood M. Sharif Mahmood, chief
executive officer, Yahsat said: "The partnership with Hughes plays
a significant role in Yahsat's growth story and serves as an
important step in achieving our vision to providing global
satellite broadband services to individuals, communities,
governments and businesses in unserved and underserved communities.
Yahsat's remarkable track record and experience in operating
YahClick, combined with Hughes technology leadership and
experience, are a winning proposition to unlock the mass market
potential of satellite broadband services across the region. I am
very pleased to see our longstanding partnership with Hughes as a
supplier over the years now advance to this strategic and very
important joint venture for Yahsat."
Pradman Kaul, president of
Hughes, said: "Yahsat has been a valued customer for many years,
incorporating our JUPITER System and operating expertise into their
services. This next step in our relationship is a natural evolution
that builds on our shared commitment to connecting the unconnected
and reflects our strategy to partner with leading providers around
the world. Our investment in this venture will expand our presence
in Africa, the Middle East and southwest Asia markets, where broadband demand is
expected to grow exponentially in the coming years."
Completion of the transaction is subject to customary regulatory
approvals and closing conditions, and is expected to occur later
this year.
Press Conference
Yahsat and Hughes will host a press
conference on Tuesday, September 11
at 2:30 p.m. Paris time at the Westin Paris. Members of the
media who cannot attend in person are invited to join by
teleconference. For details, please visit:
www.hughes.com/pressconference.
About Yahsat
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 19
markets, reaching 60% of Africa's
population and over 95% of Brazil's population. For more information,
visit www.yahsat.ae
About Hughes Network Systems
Hughes Network Systems,
LLC (HUGHES) is the global leader in broadband satellite technology
and services for home and office. Its flagship high-speed satellite
Internet service is HughesNet®, the world's largest satellite
network with over 1.2 million residential and business customers
across the Americas. For large enterprises and governments, the
company's HughesON® managed network services provide complete
connectivity solutions employing an optimized mix of satellite and
terrestrial technologies. The JUPITER™ System is the world's most
widely deployed High-Throughput Satellite (HTS) platform, operating
on more than 20 satellites by leading service providers, delivering
a wide range of broadband enterprise, mobility and cellular
backhaul applications. To date, Hughes has shipped more than 7
million terminals to customers in over 100 countries, representing
approximately 50 percent market share, and its technology is
powering broadband services to aircraft around the world.
Headquartered outside Washington,
D.C., in Germantown,
Maryland, USA, Hughes operates sales and support offices
worldwide and is a wholly owned subsidiary of EchoStar Corporation
(NASDAQ: SATS), a premier global provider of satellite
communications solutions. For additional information about Hughes,
please visit www.hughes.com and
follow @HughesConnects on Twitter.
About EchoStar
EchoStar Corporation (NASDAQ: SATS) is
a premier global provider of satellite communication solutions.
Headquartered in Englewood, Colo.,
and conducting business around the globe, EchoStar is a pioneer in
secure communications technologies through its Hughes Network
Systems and EchoStar Satellite Services business segments. For more
information, visit www.echostar.com.
Follow @EchoStar on Twitter.
Safe Harbor Statement under the U.S. Private Securities
Litigation Reform Act of 1995
This press release may
contain statements that are forward-looking, as that term is
defined by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management's beliefs,
as well as assumptions made by, and information currently available
to, management. When used in this release, the words "believe,"
"anticipate," "estimate," "expect," "intend," "project," "plans,"
and similar expressions and the use of future dates are intended to
identify forward-looking statements. Although management believes
that the expectations reflected in these forward-looking statements
are reasonable, it can give no assurance that these expectations
will prove to have been correct. You are cautioned not to place
undue reliance on any forward-looking statements, which speak only
as of the date made. EchoStar, Hughes and Yahsat assume no
responsibility for the accuracy of forward-looking statements or
information or for updating forward-looking information or
statements. These statements are subject to certain risks,
uncertainties, and assumptions. See "Risk Factors" in EchoStar's
Annual Report on Form 10-K for the period ended December 31, 2017 and Quarterly Report on Form
10-Q for the period ended June 30,
2018, as filed with the Securities and Exchange Commission
and in the other documents EchoStar files with the Securities and
Exchange Commission from time to time.
©2018 Hughes Network Systems, LLC, an EchoStar company. Hughes
and HughesNet are registered trademarks and JUPITER is a trademark
of Hughes Network Systems, LLC.
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SOURCE Hughes Network Systems, LLC