The deal, worth $14 million, will continue the DTH’s operations from the AMOS-7 and satellites at Spacecom’s 4° west orbital hotspot. With this agreement, Yes’ order backlog increases to $100 million. The extension by Yes represents their vote of confidence in Spacecom’s AMOS satellites, services, advanced technologies and leadership team.
The agreement with Yes has an additional two potential extensions of six-months each, starting at the end date of the new agreement. If realized, the extensions will result in an additional $7 million of revenue for Spacecom.
Spacecom also reported the extension of its lease agreement with AsiaSat, the owner of the AMOS-7 satellite, for an additional two years until 2024. The annual new and reduced lease fee is $14 million.
The company’s recent released transactions including a $38 million extension of services with the Government of Israel and a $6 million contract with an African MNO, among other news.
The company also recently reported on current negotiations with 4iG Plc., a Hungarian information technology and telecommunications company (Budapest Stock Market: 4iG Nyrt.), for the latter to take a majority 51 percent stake in the Israel-based satellite services company. 4iG recently won a contract to build a Hungarian national satellite.
Spacecom CEO, Dan Zajicek, said, “Signing this two-year extension with Yes allows them to simultaneously use both AMOS-3 and AMOS-7 and continues the recent positive momentum accelerating Spacecom’s development. This includes significant deals such as our investment in Canada’s NuRAN Wireless and the approximately USD 9 Million extension of services agreement on AMOS-3 with Magyar Telekom, from the Deutsche Telekom group.”