8th Apr 2019 08:49
LONDON (Alliance News) - Satellite data firm Avanti Communications PLC has signed a long-term contract with Turkish satellite operator Turksat, Avanti said Monday.
Shares in Avanti were 20% higher in early trade Monday at 2.69 pence each.
Under the deal, Turksat will commit to 1.89 gigahertz of capacity for the next three years with an optional extension of a further 12 months. Avanti said revenue will be evenly spread across the contract.
Avanti's Chief Executive Kyle Whitehill said: "We are delighted to have been able to provide this capacity to Turksat which will cover the whole of Turkey."
"This is a significant amount of capacity on HYLAS 2 and demonstrates the demand in the regions in which Avanti operates."
HYLAS 2 is one of Avanti's satellites covering the UK, Europe, the Middle East, and eastern and southern Africa.
At the end of March, Avanti said it would be launching its HYLAS 3 satellite in the third quarter of 2019.
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