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South American Footprint Strengthened Two binding MoU agreements signed with Brazilian telecoms providers

Sky and Space Global Ltd has increased its exposure within the South American region by signing binding MoU agreements with two Brazilian telecom providers.

In a milestone achievement, SAS has formally signed two binding MoU agreements with AltaRede Corporation (AltaRede) and Inovsat Telecom (Inovsat), both telecom and connectivity providers based in Rio de Janeiro.

AltaRede and Inovsat Telecom provide communication and connectivity services, via satellite to commercial customers in remote regions with little or no telecommunications infrastructure. They collectively serve the industrial, government, construction, mining and healthcare industries both on and off shore.

Under the terms of the agreements, SAS will collaborate with the respective companies to explore and test how SAS’ proprietary connectivity network can be incorporated into Inovsat and AltaRede’s service offering to increase its reliability, accessibility and affordability. Testing has commenced using the 3 Diamonds nano-satellites and is expected to complete Q1 2019.

The Company expects both MoU agreements to be transformed into definitive agreements with commercial terms following the launch of the first batch of Peals in 2019.

Meanwhile, management continues to focus its resources on building and maintaining its relationships in the South American region to ensure SAS has the ability to leverage its local knowledge and secure further agreements of this kind.

The signing of these agreements represents a significant landmark for the Company as the Brazilian market equates to 200 million people, all located within the equatorial region and with limited access to affordable connectivity services. This represents a significant revenue generating opportunity for SAS.

Additionally, securing these agreements supports the business model of supplying easily accessible, reliable and affordable connectivity to the equatorial region and becoming a leading player in the nano-satellites market with a global footprint.

Commenting on the above agreements, Sky and Space Global’s CEO, Mr. Meir Moalem said:

“Having signed a further two binding MoU agreements in South America we are seeing the results of our hard work. We are working extremely hard to build our global presence and our goal is to have a foot in the door in every country within the equatorial region.”

“It is a key priority for us to build as many relationships, sign as many agreements and demonstrate our capabilities to as many telecommunications providers globally, to guarantee a running start to commercialisation once the first batch of Pearls is launched.”


For more information contact:
IR Advisor Media and Capital Partners E:

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