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September 26, 2016 / 23 Elul, 5776

Posts Tagged ‘Spacecom’

Israeli Satellite Company Sold to Chinese for $285 Million

Saturday, August 27th, 2016

Beijing Xinwei Technology Group is buying Israeli Spacecom Satellite Communications Ltd for $285 million, both companies announced last week. Spacecom operates the Amos-2, Amos-3 and Amos-4 communications satellites and is owned by Eurocom Group, which is controlled, in turn, by Shaul Elovitch, controlling shareholder of Bezeq Israeli Telecommunication.

According to a press release statement, Beijing Xinwei Technology Group is buying Spacecom and will integrate it into an existing Luxembourg company called Luxembourg Space Telecommunication S.A., which will be the legal purchaser of Spacecom. After the acquisition is complete, Spacecom will become a private company, but its debentures will continue to be traded on the Tel Aviv Stock Exchange.

The merger requires shareholder and regulatory approval before it can be finalized. According to Space News, the transaction’s terms are pending the successful entry into service of Spacecom’s Amos-6 telecommunications satellite, built by Israel Aerospace Industries and scheduled for launch Sept. 3 aboard a SpaceX Falcon 9 rocket.

The price being paid is a 30% premium on the share’s market price, according to Globes. The deal reflects a premium of 41 percent to Spacecom’s average stock price in the past month, according to Reuters.

Spacecom Chief Executive David Pollack said in a statement that the “global market of communication satellites is undergoing a consolidation process, enabling the merging companies to improve their competitiveness,” and so “further to contacts with various entities, the negotiations with the Beijing Xinwei Group matured into this transaction, reflecting a substantial premium on the market price.”

Pollack noted that “Beijing Xinwei is a strategic partner, expert in the field of telecommunication, planning to expand its business in the communication satellites field. The merger will provide the Company with financial strength, and will enable further development and growth. The transaction is performed in accordance with Space Communication’s license terms, stipulating, inter alia, that the satellites will be operated from Israel, and that the Company shall remain an Israeli company, regardless of the identity of the shareholders of the Company.”

JNi.Media

We Have Liftoff (Video)

Sunday, September 1st, 2013

The Amos-4 communications satellite was successfully launched into space on Saturday night from Kazakhstan.

Jewish Press News Briefs

Israel Heading Into Space

Thursday, August 29th, 2013

Spacecom, operator of the AMOS satellite fleet, announced that Israel Aerospace Industries (IAI) has selected Space International Services, Ltd. (SIS) to launch the AMOS-4 commercial satellite. The launch is scheduled to take place this Saturday night from the Baikonur Cosmodrome in Kazakhstan.

AMOS-4 will be the second AMOS satellite launched by SIS on its Zenit-3SLB launch vehicle. AMOS-3 was launched to its 4ºW orbital position in 2008 on the same vehicle. AMOS-4’s launch weight will be approximately 4.2 tons, demonstrating that SIS has significantly increased the Zenit-3SLB vehicle’s performance since the AMOS-3 launch.

The satellite is expected to have a lifespan of 12 years.

Here are some photos from its construction and transportation to the launch site.

amos4-2

AMOS-4 Upper Antennas and Solar panel deployed

AMOS-4 in Communication System Tests

AMOS-4 Solar panel deployed

amos4-5

amos4-3

AMOS-4 Deployed in Space

Cool. I wish I was going with it.

Jewish Press Staff

Printed from: http://www.jewishpress.com/news/photos/israel-heading-into-space/2013/08/29/

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