- Strategic multi-year partnership valued at up to $500 million over duration, deepening long-standing cooperation between the two companies.
- Enabling Intelsat to expand integration of LEO into its GEO assets to deliver unparalleled customer solutions.
- Leveraging Intelsat's extensive experience into the build-out of the Next generation OneWeb constellation as one of its major practitioners.
Regulatory News:
Eutelsat Group (ISIN: FR0010221234 Euronext Paris London Stock Exchange: ETL) announces that it has signed a major new multi-year, multimillion-dollar agreement partnering with Intelsat on its OneWeb Low Earth Orbit Constellation.
Commencing in mid-2024, the deal is valued at up to $500 million over seven years, with a firm commitment of $250m, including the $45m deal signed in March 20231, with options of a further $250 million by the end of the period. It will enable Intelsat to combine OneWeb's LEO Network with its GEO and terrestrial networks to deliver comprehensive customer solutions supporting networks, government, and mobility sectors.
Innovation and technological advancement and the opportunity to incorporate Intelsat's input into the build-out of the Next generation OneWeb constellation as one of its major practitioners will form key elements of the partnership. Such collaboration will help to further enhance the OneWeb system as it evolves to support complex, next-generation communication needs and offer robust and reliable connectivity solutions that are second to none.
Over the past couple of years, Intelsat has leveraged our partnership with the Eutelsat Group to initiate our strategy of enabling multi-orbit solutions in the commercial aviation and government markets. Today's announcement takes that partnership to a new level, enhancing our ability to offer new, true multi-orbit services and solutions across our portfolio of customers and business segments," said Dave Wajsgras, Chief Executive Officer of Intelsat
Eva Berneke, Chief Executive Officer of Eutelsat Group added: "This expanded partnership with Intelsat represents a strong vote of confidence in the capabilities of the OneWeb satellite constellation, today and well into the future, as well as showcasing the necessity in today's world for major satellite operators to be able to offer multi-orbit solutions to their customers. We are also delighted to further deepen our collaborative approach with Intelsat going forward, leveraging its unparalleled experience in the key verticals of Aviation and Government.
About Eutelsat Group
Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of Eutelsat and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 35 geostationary (GEO) satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses customers' needs in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group's unique suite of in-orbit assets and on-ground infrastructure enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and Eutelsat Group employs more than 1,700 people from more than 50 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL).
Find out more at www.eutelsat.com
DISCLAIMER
The forward-looking statements included herein are for illustrative purposes only and are based on management's views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Group's customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organization's closed pension fund, and foreign exchange risk. Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to reflect any change in events, conditions, assumptions, or circumstances on which any such statements are based, unless so required by applicable law. The information contained in this document is not based on historical fact and should not be construed as a guarantee that the facts or data mentioned will occur. This information is based on data, assumptions and estimates that the Group considers as reasonable.
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1 Multi-orbit agreement signed in March 2023, integrating OneWeb services and Eutelsat's geostationary high-throughput capacity to support mobile connectivity solutions over Europe, the Middle East, and the Pacific.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240319096613/en/
Contacts:
Media enquiries
Joanna Darlington
+33 674 521 531
jdarlington@eutelsat.com
Anita Baltagi
+33 643 930 178
abaltagi@eutelsat.com
Katie Dowd
+1 202 271 2209
kdowd@oneweb.net
Investors
Joanna Darlington
+33 674 521 531
jdarlington@eutelsat.com
Hugo Laurens Berge
+33 670 80 95 58
hlaurensberge@eutelsat.com
