SSG Enters Binding Letter of Intent with leading Pan-African Communications Company
Transaction Highlights:
Sky and Space Global UK (SSG) has entered a binding Letter of Intent with a leading Pan-African communications company, Sat-Space Africa Ltd
Sat-Space has committed to:
o providing ground based infrastructure support for SSG’s initial phase of 2-3 nano-satellites to be built, launched and tested by mid-2017
o purchasing all available communication bandwidth that SSG can provide from its initial nano-satellite platform, at market competitive pricing
Sat-Space has existing operations and infrastructure in 27 African countries
SSG estimates that once its equatorial constellation crosses the 100 nano-satellite threshold, it will be able to provide approximately 1,000,000,000 minutes/year for sale to the phone and messaging market, plus bandwidth of 10,000 mhz/year
This first equatorial constellation once fully operational would have the potential to deliver SSG revenues of circa A$300-500 million per annum, based on competitive rates
Sat-Space will also allow SSG to use their ground control stations during the initial 3 nano-satellite pilot phase by mid-2017, as part of SSG’s testing operations, delivering multi-million dollar cost savings to SSG and a fast track to commercialisation
Sat-Space and SSG will also collaborate over the next 12 months to implement an operational communication platform for the Sat-Space network, as part of SSG’s initial 2-3 nano-satellite pilot program
