Al Yah Satellite Communications, better known as Yahsat, secured a Dh24 million ($6.3m) contract from Abu Dhabi Ship Building (ADSB) to deliver advanced and secure satellite communication solutions.
As a part of the deal, Yahsat Government Solutions (YGS), the government arm of Abu Dhabi-listed Yahsat, will design, deliver and integrate the satellite communication systems in vessels produced by ADSB, a statement by Abu Dhabi Media Office said on Thursday.
“This agreement is a major milestone for Yahsat,” said Ali Al Hashemi, group chief executive of Yahsat.
The collaboration is a step towards “advancing the nation’s long-term industrialisation strategy”, he added.
Yahsat, a unit of Mubadala Investment Company, raised about $731m from its initial public offering last July.
It sold 975.9 million shares, or 40 per cent of equity through the IPO, which was several times oversubscribed, with significant demand from both qualified institutional and retail investors in the UAE, Yahsat said at the time.
The company offers multi-mission satellite services in more than 150 countries across Africa, Asia, Australasia, Europe, the Middle East and South America.
Under the agreement signed on Thursday, Yahsat will work closely with the naval shipbuilder to include secure and reliable end-user communications solutions using YGS’s terminal over Yahsat’s satellite network, ideal for naval satellite communications, the statement said.
The satellite communication systems to be commissioned on the vessels have been designed, integrated, assembled and factory tested in-house by the YGS team, it added.
Yahsat, which is among the top-10 satellite operators in the world by revenue, expects income from its global data services to significantly rise once it adds new technology and launches another satellite into orbit in 2023, Mr Al Hashemi told The National in September.
It currently earns a large chunk of its income from voice services.
