Tuesday 11 December 2018

Eutelsat boosts ME presence with Noorsat acquisition

DUBAI, October 16, 2017

Eutelsat Communications, one of the world's leading satellite operators, has acquired Noorsat, a leading satellite service provider in the Middle East region, from Bahrain’s Orbit Holding Group.

The acquisition of Noorsat fits with Eutelsat’s broader strategy of streamlining distribution within selected core video neighbourhoods where it can create value, said a statement from the company.

It will allow Eutelsat to strengthen the long term commercial development of its market-leading video positions in the Arabic world and increase its direct access to end-customers, facilitating stimulation of High Definition TV take-up and the upselling of incremental video services, it stated.

Michel Azibert, Eutelsat chief commercial and development officer, said: "Noorsat’s capabilities and market knowledge will further consolidate our longstanding position in the dynamic Middle East video market."

Established in 2004, Noorsat is the premier distributor of Eutelsat capacity in the Middle East, serving blue-chip customers and providing services for over 300 TV channels almost exclusively from its Middle East and North Africa (Mena) neighbourhoods at 7/8° West and 25.5° East.

"By integrating its service platform and teams we are underlining our commitment to serving customers in one of the key markets within in our global footprint," he added.

As per the deal, Eutelsat has acquired 100 per cent of Noorsat for a consideration of $75 million, debt free and cash free, said the company in a statement.

The acquisition will add upwards of $15 million to Eutelsat’s consolidated revenues on an annualised basis after the elimination of the capacity leased by Eutelsat from Noorsat, it added.-TradeArabia News Service

Tags: Satellite | acquisition | presence | Eutelsat | Noorsat |

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