Eutelsat Consolidates Its Presence in Middle East with the Acquisition of NOORSAT
13 Oktober 2017 - 10:26AM
Business Wire
Regulatory News:
Eutelsat Communications (Paris:ETL) has acquired NOORSAT, one of
the leading satellite service providers in the Middle East, from
Bahrain’s Orbit Holding Group.
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 Eutelsat’s market-leading Middle East and North Africa
neighbourhoods at 7/8° West and 25.5° East.
The acquisition of NOORSAT fits with Eutelsat’s broader strategy
of streamlining distribution within selected core video
neighbourhoods where it can create value. 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.
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. By integrating NOORSAT’s service platform and
teams we are underlining our commitment to serving customers in one
of the key markets within in our global footprint.”
Eutelsat has acquired 100% of NOORSAT for a consideration of
US$75 million, debt free and cash free. The acquisition will add
upwards of US$15 million to Eutelsat’s consolidated revenues on an
annualised basis after the elimination of the capacity leased by
Eutelsat from NOORSAT. Its slightly dilutive impact on Eutelsat’s
EBITDA margin will be absorbed within the current margin
objectives.
About Eutelsat CommunicationsFounded in 1977, Eutelsat
Communications is one of the world's leading satellite operators.
With a global fleet of satellites and associated ground
infrastructure, Eutelsat enables clients across Video, Data,
Government, Fixed and Mobile Broadband markets to communicate
effectively to their customers, irrespective of their location.
Over 6,600 television channels operated by leading media groups are
broadcast by Eutelsat to one billion viewers equipped for DTH
reception or connected to terrestrial networks. Headquartered in
Paris, with offices and teleports around the globe, Eutelsat
assembles 1,000 men and women from 32 countries who are dedicated
to delivering the highest quality of service. Eutelsat
Communications is listed on the Euronext Paris Stock Exchange
(ticker: ETL).For more about Eutelsat go to www.eutelsat.com
www.eutelsat.com – @Eutelsat_SA and
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Eutelsat CommunicationsPressVanessa O’Connor, Tel:
+ 33 1 53 98 37 91voconnor@eutelsat.comorMarie-Sophie Ecuer, Tel: +
33 1 53 98 37 91mecuer@eutelsat.comorInvestors and
analystsJoanna Darlington, Tel. : +33 1 53 98 35
30jdarlington@eutelsat.comorCédric Pugni, Tel. : +33 1 53 98 35
30cpugni@eutelsat.com
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