SatixFy Communications Ltd. (“SatixFy”) has announced that the company’s Co-Founder, Co-Chairman and CEO, Yoel Gat, passed away on April 8, 2022.
Yoav Leibovitch, Co-Founder, Co-Chairman and Chief Financial Officer, issued the following statement on behalf of himself and SatixFy’s Board: “We are deeply saddened by the passing of Yoel. He was a tremendous visionary and the driving force behind growing SatixFy to where it is today. I personally have partnered with Yoel for over 30 years and will miss both his personal friendship and business partnership. He was a true entrepreneur, a creator of new companies, technologies and markets. We will continue to follow his vision as we take SatixFy to its next stage of growth. We also extend our heartfelt condolences to his wife Simona, and his two children. Our thoughts and prayers are with them at this difficult time.”
Mr. Leibovitch has been named Interim CEO and will assume Mr. Gat’s leadership duties for the time being as well as continuing his duties as CFO. SatixFy had previously announced that its new CEO has been hired to begin on June 26, 2022, the culmination of a transition plan that began in the Fall of 2021. SatixFy expects to announce the name of the new CEO in the coming weeks, as soon as he is free to do so in his current position.
On March 8, 2022, SatixFy announced that it had entered into a definitive business combination agreement with Endurance Acquisition Corp. (NASDAQ: EDNC), a publicly traded special purpose acquisition company formed by an affiliate of Antarctica Capital, an international private equity firm.
SatixFy is developing satellite communications systems, including satellite payloads, user terminals and modems, all of which are powered by its proprietary chips. Its modems, with Software Defined Radio (SDR) and Electronically Steered Multi Beam Antennas (ESMA), are designed to support the most advanced communications standards, such as DVB-S2X. SatixFy’s ASICs and RFICs are designed to improve significantly on current generation satellite communications system performance and reduce the weight and power requirements of terminals, payloads and save real estate for gateway equipment. The company delivers advanced VSATs and multi-beam electronically steered antenna arrays for a variety of mobile applications and services such as LEO, MEO and GEO satellite communications systems, Aero/in-flight connectivity systems, communications-on-the-move applications, satellite-enabled Internet-of-Things and machine-to-machine devices. SatixFy was founded in 2012, and is headquartered in Rehovot, Israel with additional offices in the United States, United Kingdom and Bulgaria.