11th Jan 2016 07:00
Satellite Solutions Worldwide Group plc
("SSW" or the "Company")
Contract signed with BT to support the UK Government's Satellite Broadband Initiative
Satellite Solutions Worldwide Group plc (AIM:SAT), the global communications company specialising in rural and last-mile satellite broadband, has signed a contract with BT to become one of the satellite broadband retail service providers for the recently announced UK Government scheme to offer subsidised satellite broadband to homes and businesses with internet connections of less than 2 Mb.
This subsidised roll out of satellite broadband solutions is in addition to the Government's Broadband Delivery UK ("BDUK") initiative in England, Scotland and Northern Ireland, focussed on delivering superfast broadband coverage to 95 per cent of the UK by 2017.
Under the satellite scheme, the UK Government will provide funding for the capital cost of the dish and modem equipment, connection fees and professional installation for qualified participants, which could be worth up to £350 per end user. The scheme opened in December 2015, and SSW is offering a number of
packages ranging from a basic service of up to 10 Mb download and 2 Mb upload with a usage allowance of 10 GB, to 'super-fast' satellite broadband services of up to 30 Mb download and 2 Mb upload connections.
Independently of its relationship with BT, SSW is involved in a similar scheme in Wales organised by the Welsh Government, where a variety of satellite tariffs are available and where any user that opts for the Company's 30 Mb service can claim subsidies of up to £800 to cover the cost of the equipment, installation and connection.
The Welsh Government estimates that up to 42,000 homes and businesses may qualify for the subsidy across Wales. The Department of Culture, Media & Sport (DCMS) estimates up to 300,000 properties across the UK could benefit from the Government's decision to subsidise satellite broadband as a means of ensuring that 'super-fast' broadband is obtainable in remote locations.
Digital Economy Minister Ed Vaizey said:
"Our rollout of superfast broadband has already reached an additional 3.5 million homes and businesses who would otherwise have missed out. We are making tremendous progress, but it's a massive engineering project and won't happen overnight. This scheme offers immediate assistance to those homes and businesses in the most remote areas with the slowest speeds and is all part of our transformation of the UK's digital landscape."
CEO Andrew Walwyn commented:
"We are delighted to be working with BT and a number of other satellite parties to extend the reach of high-speed broadband in the UK. The UK Government's scheme both removes the barrier-to-entry cost for customer on the acquisition of the kit, and at the same times increases our addressable market in the UK.
"Furthermore, as a result of similar intervention schemes in Europe we are already seeing strong sales. We have positioned ourselves strategically in key territories via a number of acquisitions since coming to the AIM market, to generate significant shareholder value from the subsidised roll-out of satellite broadband."
*Please click following link for further information on the initiative:
https://www.gov.uk/government/news/satellite-dishes-to-boost-broadband-speeds-in-most-remote-areas-of-uk
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 |
About SSW
Established in 2008, SSW offers a broad range of satellite broadband services with customers across 31 countries. With solutions targeting B2C and B2B users, and with products developed specifically for the broadcasting/SNG, Police and Military markets, SSW's brand Europasat (www.europasat.com) is a leading independent provider of satellite broadband internet services across Europe.
Listing on the London Stock Exchange as Satellite Solutions Worldwide Group plc (AIM:SAT) on 12 May 2015, and with a track record of strong organic growth in its subscriber base and recurring revenues, the directors of SSW believe there is a major opportunity to consolidate the businesses 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 30 Mb satellite based broadband services to almost any premises, whether residential, commercial or industrial across Europe, irrespective of location or local infrastructure.
About BDUK
Government committed to giving access to 2 Mb download speed for every premise in the UK by the end of 2015. As part of this commitment Broadband Delivery UK (BDUK) are delivering a satellite broadband subsidy scheme through a number of UK Local Bodies.
This scheme will help with a contribution towards the equipment and installation of a satellite broadband connection. For further details please visit the following BDUK website:- http://gosuperfastchecker.culture.gov.uk/basicbroadbandchecker
If you have already been given an eligibility code by your Local Body, then please contact us. We will validate your code with the issuing Local Body and then confirm your order details. If you don't have an eligibility code then please with contact your Local Body or visit the BDUK website using the link shown above, to check whether you can take advantage of the scheme.
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