Sky and Space Global signs distribution agreement with GlobalSat Group
(28 November 2018 - Sky and Space Global) Sky and Space Global has reached a landmark and signed a distribution agreement with Globalsat Group (GlobalSat) for the provision of narrow-band telecommunications services via nano-satellites.
Under the terms of the agreement, SAS and GlobalSat have established non-exclusive commercial termsfor GlobalSat to distribute,sell, market and promote SAS’ ground-breaking narrow-band connectivity solutions and respective products to its customers, affiliates, resellers, subscribers and end users within Latin America.
The Latin American market consists of 64 million people with limited or no access to mobile connectivity services, representing 10% of the Latin American population and symbolising strong growth potential for SAS in this region.
Once the constellation deployment has begun and as a result of this agreement, SAS expects to generate revenues of US$5 million within the first 2 years based on the conservative GlobalSat Group estimate, with a significant growth potential, thanks to the extensive amount of current and upcoming GlobalSat clients across the energy, government, defence, mining and agriculture sectors.
Sales will commence immediately following the launch of the first batch of Pearls and the successful completion of in-orbit testing and designation as fully operational.
The signing of this agreement follows completion of commercial testing with GlobalSat Group and confirms the commercial potential of SAS’ proprietary nano-satellite technology and the business model.
The agreement has an initial two-year term from the date the SAS network is operational (with a possible option to extend).
Sky and Space Global’s Managing Director and CEO, Mr. Meir Moalem said: “We are pleased to have finally secured a definitive supply agreement with GlobalSat. This marks a huge milestone achieved for us on the pathway to commercialising our technology. We have been working very closely with GlobalSat for a while now and look forward to seeing how this agreement unfolds.”
Managing Director of GlobalSat Group, Mr. Alberto Palacios, said: “We are excited to be moving forward with Sky and Space Global and believe that we have the opportunity to significantly improve our service offering with SAS’ nano-satellite technology on board.”
About Sky and Space Global
Sky and Space Global Ltd is an ASX listed (SAS) satellite company with European and Israeli centres of Aerospace, Satellite and Software Industry Experts.
The Company’s core business is to operate a communications infrastructure based on nanosatellite technology and develop highly sophisticated software systems that will deploy, maintain orbit control and handle the communication network in space to provide a global coverage. The Company successfully launched its first three nanosatellites, the ‘3 Diamonds’, into space in June 2017 and is preparing for the launch of a constellation of 200 more nanosatellites by 2020.
The Company’s vision is to provide affordable communication coverage and services to anyone, anywhere, anytime with relatively low maintenance costs. This will enable Sky and Space Global to deliver cost-effective communications infrastructure and services to those who need it most and to disrupt the telecommunications and international transport industries. Sky and Space Global Ltd owns 100% of Sky and Space Global (UK) Limited.
About GlobalSat Group
Founded in 1999, GlobalSat Group is the first Pan-American Mobile Satellite Service (MSS) consortium and a leading provider of voice, data, M2M/IoT, software, and hardware development through the western hemisphere.
The group has offices in the continental United States, Argentina, Bolivia, Brazil, Canada, Chile, Colombia, Mexico, Peru and Puerto Rico as well as distributors in the most important cities in the region.
Continuously and efficiently, GlobalSat land, maritime and aero solutions provide mission-critical communications to thousands of clients across sectors which include energy, government, defence, media, mining, banking agriculture, NGOs and tourism.
Recently, GlobalSat Group was honoured with the “Top Land Mobility Satcom Innovation Award” by the Mobile Satellite User Association. GlobalSat was also named “Latin America Satellite Communications Company of the Year” two consecutive years (2016, 2017) by the highly recognised international consulting firm Frost & Sullivan.