Eutelsat completes acquisition of NOORSAT
The $75m deal will help cement Eutelsat’s presence in the Middle East region.
NOORSAT, a satellite service provider of the Bahrain's Orbit Holding Group, has been acquired by Eutelsat Communications in a $75m deal.
The acquisition is expected to reinforce Eutelsat's presence in the Middle East region, support its long-term commercial development of video positions in the Arab world and improve direct access to consumers. Additionally the deal will see further progress in the development of HDTV and video services.
Formed in 2004, NOORSAT previously served as the primary distributor of Eutelsat's services in the region, its offerings targeted at blue-chip consumers and over 300 TV channels.
Michel Azibert, Eutelsat's chief commercial and development officer, said: "NOORSAT's capabilities and market knowledge will further consolidate our longstanding position in the dynamic Middle East video market. By integrating NOORSAT's service platform and teams we are underlining our commitment to serving customers in one of the key markets within in our global footprint."
The deal is expected to add roughly $15m to Eutelsat's consolidated revenues, which is based on an annualised basis after the elimination of the capacity leased by Eutelsat from NOORSAT.
Incepted back in 1977, Eutelsat Communications is a global satellite operator that delivers over 6,600 television channels through various partner media groups. Based in Paris, the company is present in over 32 countries and employs a workforce numbering over a thousand.