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Cisneros Makes Investment in AST&Science to Support its New Transformative Space Technologies

July 5, 2018

 

AST&Science has received a significant equity investment from Cisneros.

 

According to AST&Science CEO and Chairman Abel Avellan, the Cisneros investment will accelerate development and deployment of the company’s innovative patented low-Earth-orbit (LEO) satellite technology.

 

AST&Science is a technology company founded by well-known space industry entrepreneur Abel Avellan, who started EMC and turned it into the world’s fastest-growing satellite service provider, then sold it for $550 million in 2016. Avellan’s latest venture will use AST&Science’s patented technology to transform the way LEO satellites are designed, manufactured, launched and used in space to enable a broad range of commercial and defense applications.

 

Founded in 1929, Cisneros is a global enterprise with four primary areas of focus:  media and entertainment, digital advertising solutions, real estate and social leadership. Cisneros Media produces content in 12 languages that is distributed in over 100 countries, reaching over half a billion people globally. Cisneros also operates the leading digital mobile, online and audio ad network serving the U.S. Hispanic and Latin American markets.

 

“Cisneros’ deep and broad experience in media and telecoms, which includes the launching of DirectTV in Latin America, will provide a very valuable perspective as we prepare to launch our space technologies to market,” said Avellan.

 

“Creating new transformative ideas and building a better world is our passion at Cisneros. Expanding frontiers and transforming our present into a bright future through social leadership is our vision,” said Adriana Cisneros, CEO of Cisneros. “Investing in AST&Science fits perfectly within our focus as a company. At Cisneros we thrive at building global businesses. Through AST&Science we will help to create market disruption through the use of satellites once again.”

 

Earlier this year, AST&Science acquired a controlling interest in the European satellite company NanoAvionics. The company is also investing $25 million to build an additional manufacturing facility in the United States for high-volume production of its ultra-small satellites, called Microns.