Dubai satellite firm said to eye US expansion
Thuraya says expansion would increase customer base, boost profit margins
Dubai satellite company Thuraya Telecommunications is looking to expand to the US, it was reported on yesterday.
The provider of mobile-satellite services in Europe, Australia and Asia, is talking with financial backers to start a service in the US, Bloomberg reported, quoting CEO Samer Halawi.
He said the company may also seek agreements to attach its equipment to satellites owned by providers that already have US coverage.
Shareholders of Thuraya, a private joint-stock company, include Boeing, Third Point and Jefferies Group, the report said.
It added that a US expansion would help Thuraya increase its customer base, and boost profit margins.
The company, which serves clients in the government, oil and gas and other industries, booked $122m in sales last year, and expects to reach $200m in revenue by 2018, Bloomberg added.
"We are looking for partnerships to look at ways to cover the US, and hopefully do this soon," Halawi said. He declined to name companies with which Thuraya has held talks.