Photo credit: Eutelsat GroupPress release - 19 March 2024 22:30
Eutelsat Group and Intelsat ink significant new deal for partnership on Eutelsat's OneWeb Low Earth Orbit Constellation Facebook
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Strategic multi-year partnership valued at up to $500 million over duration, deepening long-standing cooperation between the two companies.
Enabling Intelsat to expand integration of LEO into its GEO assets to deliver unparalleled customer solutions.
Leveraging Intelsat's extensive experience into the build-out of the Next generation OneWeb constellation as one of its major practitioners.
Paris, 19 March 2024 - Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) announces that it has signed a major new multi-year, multimillion-dollar agreement partnering with Intelsat on its OneWeb Low Earth Orbit Constellation.
Commencing in mid-2024, the deal is valued at up to $500 million over seven years, with a firm commitment of $250m, including the $45m deal signed in March 2023[1], with options of a further $250 million by the end of the period. It will enable Intelsat to combine OneWeb's LEO Network with its GEO and terrestrial networks to deliver comprehensive customer solutions supporting networks, government, and mobility sectors.
Innovation and technological advancement and the opportunity to incorporate Intelsat's input into the build-out of the Next generation OneWeb constellation as one of its major practitioners will form key elements of the partnership. Such collaboration will help to further enhance the OneWeb system as it evolves to support complex, next-generation communication needs and offer robust and reliable connectivity solutions that are second to none.
Over the past couple of years, Intelsat has leveraged our partnership with the Eutelsat Group to initiate our strategy of enabling multi-orbit solutions in the commercial aviation and government markets. Today's announcement takes that partnership to a new level, enhancing our ability to offer new, true multi-orbit services and solutions across our portfolio of customers and business segments. said Dave Wajsgras, Chief Executive Officer of Intelsat.
Eva Berneke, Chief Executive Officer of Eutelsat Group added: This expanded partnership with Intelsat represents a strong vote of confidence in the capabilities of the OneWeb satellite constellation, today and well into the future, as well as showcasing the necessity in today's world for major satellite operators to be able to offer multi-orbit solutions to their customers. We are also delighted to further deepen our collaborative approach with Intelsat going forward, leveraging its unparalleled experience in the key verticals of Aviation and Government.
[1] Multi-orbit agreement signed in March 2023, integrating OneWeb services and Eutelsat's geostationary high-throughput capacity to support mobile connectivity solutions over Europe, the Middle East, and the Pacific.
Topics
Telecom
Radio, TV
Electronic business, communication
Innovations, inventions
Network products
Telecommunication, mobile telephony
About Eutelsat Group
Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 35 Geostationary satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group's unique suite of in-orbit assets enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and the Eutelsat Group employs more than 1,700 people across more than 50 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL)
Find out more at www.eutelsat.com
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DISCLAIMER
The forward-looking statements included herein are for illustrative purposes only and are based on management's views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Groups customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organizations closed pension fund, and foreign exchange risk. Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to re
