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Acquisition of two Satellite Broadband Providers

21st Dec 2015 07:00

RNS Number : 6552J
Satellite Solutions Wldwide Grp PLC
21 December 2015
 

Satellite Solutions Worldwide Group plc

("SSW" or the "Company")

 

Acquisition of two Satellite Broadband Providers in Poland

 

Fifth and sixth acquisitions since admission to AIM in May 2015

 

Satellite Solutions Worldwide Group plc (AIM:SAT), the global communications company specialising in rural and last-mile satellite broadband, is pleased to announce that it has acquired the customers and related assets of Hetan Technologies S.A. and AVC Solutions Sp. Z.o.o., providers of satellite broadband services in Poland.

 

These two transactions mean SSW has acquired six companies since admission to AIM in May 2015. The Company now has over 25,000 customers, as it continues to deliver on its stated strategy of consolidating the European satellite broadband market.

 

The acquired customer bases and assets will be integrated with SSW's existing operations in Poland under a new wholly owned subsidiary, Europasat Sp. Z.o.o., which has also acquired a Polish Telecoms operating licence. SSW will be working closely with Eutelsat, one of its satellite partners, to develop innovative business and consumer products to fuel the rapid adoption of satellite broadband across the country.

 

SSW believes that the satellite broadband market in Poland has significant growth potential. Following completion of these two acquisitions, SSW is now the largest satellite broadband provider in Poland, and is well positioned to target an addressable market of nearly five million homes in Poland, equating to 35% of Polish households, which have less than 2 Mbps broadband coverage*.

 

CEO of Eutelsat Broadband Olivier Anstett commented: "The increased presence of SSW in the Polish market is good news for customers and those still trapped in the digital divide looking for a broadband solution. SSW brings a track record of offering innovative satellite broadband services for both residential and business customers across Europe using Eutelsat's KA-SAT high throughput satellite. We look forward to working closely with them to help meet the demand for satellite broadband in Poland."

 

CEO Andrew Walwyn commented: "This is our sixth acquisition in sixth months in four jurisdictions across Europe since our admission to AIM in May 2015 and takes our subscriber base to approximately 25,000 customers. These two acquisitions, and the infrastructure created around them, provide a solid platform for rapid organic growth in one of Europe's greatest satellite broadband markets. We look forward to working with Eutelsat in 2016 to bring innovation and scale to this key European territory.

 

"The recent announcement of the UK's own Government intervention scheme via BDUK, giving funding to cover the set-up costs for satellite broadband for up to 300,000 homes and businesses who can't get fast wired broadband, further underpins satellite as the go-to technology for locations where fibre can't deliver."

 

*Source: Point Topic data.

 

 

Enquiries:

 

Satellite Solutions Worldwide Group PLC

www.satellitesolutionsworldwide.com

Andrew Walwyn, Chief Executive Officer

Via Walbrook PR

Strand Hanson (Financial & Nominated Adviser)

Tel: +44 (0)20 7409 3494

Andrew Emmott / Ritchie Balmer

 

Arden Partners plc (Broker)

Tel: +44 (0)20 7614 5900

Catherine Miles / James Felix / Ciaran Walsh

 

Walbrook PR (PR advisers)

Tel: +44 (0)20 7933 8790

Paul Cornelius / Nick Rome

or [email protected]

 

 

 

About SSW

SSW's brand Europasat (www.europasat.com), is Europe's largest independent satellite broadband internet service provider, offering services to consumer and business users across Europe. With a track record of strong organic growth in its subscriber base and recurring revenues, the directors of the SSW believe there is a major opportunity to consolidate SSW's organic growth with acquisitions throughout the fragmented European satellite broadband market.

 

Working closely with satellite owners and operators, SSW targets customers in the 'digital divide' with solutions that deliver up to 22 Mbps (rising to 30 Mbps in the new year) satellite based broadband services to almost any premises, whether residential, commercial or industrial across Europe, irrespective of location or local infrastructure.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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