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.