4iG Plc. It may acquire a majority stake in a global telecommunications-focused satellite communications company this year.) to acquire a 51% stake in the company.
SpaceCom has and operates four geosynchronous satellites in different orbital positions (AMOS 3, AMOS 4, AMOS 7 and AMOS 17). The Israeli company provides broadcast services as well as broadband satellite services to its customers all over the world. The shares of SpaceCom, which has 65 employees, are traded on the Tel Aviv Stock Exchange. The company had sales of $88 million in 2020 and an EBITDA of $52 million. The company currently has a contract portfolio worth $300 million.
Under the initial agreement, 4iG and its subsidiaries will acquire an absolute majority stake in the Israeli company by raising private capital. In order to complete the acquisition, 4iG will begin due diligence for the target company, which may submit a final offer for a 51% stake in SpaceCom based on its expected results in August.
The $65 million deal is expected to close in the fall of 2021, subject to approval by the company’s general meeting and the Israeli Ministry of Communications.
SpaceCom also has clients in Hungary, one of the most important partners is Magyar Telekom, which about 200,000 Sat TV customers receive AMOS 3 satellite television services from SpaceCom.
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