Yahsat, a global satellite operator based in the United Arab Emirates (UAE) and wholly owned by Mubadala Investment Company, completed the acquisition of a majority and controlling stake in the mobile satellite services operator, Thuraya.
Ali Al Hashemi, CEO of Thuraya
The acquisition is set to catapult Yahsat into the mobile satellite services space, complementing its stronghold in fixed satellite solutions.
Commenting on the Thuraya acquisition, Masood M. Sharif Mahmood, CEO of Yahsat stated, “The Thuraya acquisition provides us with an ideal opportunity to grow and diversify our business, bolstering our satellite solutions capabilities on both government and commercial fronts.”
”By integrating the portfolios of the two companies under the leadership of Ali Al Hashemi, we will together be able to offer a comprehensive mobile and fixed satellite services portfolio, further strengthening our value proposition to our customers. We are excited about growing together and understanding how we can work in unison, share new ideas, and ultimately serve our customers better.”
Expanding Yahsat’s current satellite solutions portfolio
Ali Al Hashemi, CEO of Thuraya stated: “I would like to thank Ahmed Al Shamsi for his exceptional leadership and contribution towards building Thuraya into a global mobile satellite services player throughout his tenure spanning more than two decades with Thuraya, Ahmed is a true veteran in the satellite industry, Thuraya will benefit from his expertise through his advisory role.”
The acquisition of the UAE’s first home-grown satellite operator, Thuraya, is set to significantly expand Yahsat’s current satellite solutions portfolio on both commercial and government fronts and creates a strong platform to capture the growing opportunity around IoT and M2M applications across both sectors.
Thuraya’s two satellites, serving over 160 countries, will join the Yahsat fleet, expanding the group’s satellite fleet to five. The combination of geostationary satellites operating in the C, Ka, Ku and L-bands will jointly cover Europe, Africa, the Middle East, South America, and Asia, providing a broad range of Fixed and Mobile Satellite Services spanning voice and data communications to both commercial and government sectors.
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