Yahsat agrees to buy majority stake in Thuraya

Thuraya to add two satellites to Yahsat's orbital portfolio

A Yahsat owned SPV has bought Etisalat's 20.04 per cent stake in Thuraya. Image Al Yah 3 - Courtesy Yahsat

Yahsat, a UAE-based satellite operator, agreed to acquire a majority stake in the mobile satellite services operator Thuraya.

Financial terms were not disclosed and the deal is subject to final pre-closing conditions to be met.

“The acquisition of the UAE’s first home-grown satellite operator, Thuraya, will significantly expand Yahsat’s current satellite solutions portfolio for both commercial and government verticals, as well as its global footprint,” the company said in a statement.

“The acquisition will set Yahsat on a new phase of growth, with Thuraya bringing 20 years of innovation and experience in the mobile satellite services market along with a rich portfolio of products and services complimented by a renowned brand.”

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Thuraya’s two satellites will expand Yahsat’s constellation to five. The two satellites that Thuraya own serve 140 countries.

In all, after the acquisition, Yahsat will have a combination of geostationary satellites  which will cover Europe, Africa, the Middle East, South America and Asia, providing a broad range of fixed and mobile satellite services encompassing voice and data communications for both governments and commercial entities.

In January, Yahsat launched its third satellite Al Yah 3 into space.

Al Yah 3 will join Al Yah 1 and Al Yah 2 in helping to empower millions of people across the Middle East, Africa, South West Asia and Brazil to access affordable internet access via Yahsat’s high-speed satellite broadband service, YahClick. The service is designed to provide satellite broadband internet to everyone, opening up new opportunities for every aspect of society from governments and enterprises to end users at home.

It will expand Yahsat’s commercial Ka-band coverage to an additional 19 new markets in Africa, reaching 60 per cent of the population. Furthermore, Al Yah 3 will serve Brazil, covering over 95 per cent of its population.