8th Feb 2011 07:00
Date: | 8 February 2011 |
On behalf of: | Avanti Communications Group plc ("Avanti" or "the Company") |
Embargoed for release: | 0700hrs |
Avanti Communications Group plc
Contract Win
Avanti Communications (AIM: AVN), the broadband satellite operator, is pleased to announce a new contract win with TigrisNet Ltd, the international satellite service provider. TigrisNet previously bought capacity on both HYLAS 1 and HYLAS 2, but as a result of expanding demand has increased its commitment to the HYLAS 2 satellite with a further 5 year contract worth an additional $12.2 million. This, together with the first contract announced in December last year, brings the total value of commitments with TigrisNet to over $27 million.
This extended contract will enable TigrisNet to meet the expected growth in the Iraqi telecommunications market as greater competition is introduced and economic activity builds.
TigrisNet is the leading VSAT (Internet via Satellite) provider in Iraq providing a range of services that covers clients from every sector, including Government bodies to SMEs and local ISPs. TigrisNet is also the market leader in Video Conferencing and VoIP.
Commenting, David Williams, Avanti Chief Executive, said:
"I am delighted that HYLAS 2 together with TigrisNet will be playing such a crucial role in the growth of Iraq's telecommunications infrastructure, bringing new opportunities for the government, businesses and individuals to create exciting services that deliver value to the economy and enhance peoples' lives. We look forward to a long and rewarding relationship with TigrisNet."
Dr Raeid Nasser, CEO of TigrisNet , commented:
"I am convinced that the growth of Ka band based VSAT services will be strong and sustainable. It offers the opportunity to deliver significant improvements in high speed broadband connectivity to homes, businesses and institutions in Iraq and the wider region for years to come. This is why I am very pleased to be working with Avanti Communications whose delivery of the HYLAS 2 Ka band satellite in 2012 will ensure that TigrisNet will be able to continue to develop and deliver market beating services to its growing customer base."
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For further information please contact:
Avanti Communications Group Plc Tel: +44 (0) 20 7749 1600
David Williams
Cenkos Securities Tel: +44 (0) 20 7397 8900
Max Hartley/ Julian Morse
Jefferies International Limited Tel: +44 (0) 20 7029 8000
Julian Smith / Thomas Rider
Redleaf Communications Ltd Tel: +44 (0) 20 7566 6700
Samantha Robbins / Paul Dulieu
Notes to Editors:
About Avanti
·; Avanti sells satellite broadband services to telecoms companies which use them to supply residential, enterprise and institutional customers.
·; Avanti's first satellite, called HYLAS 1, launched on 26th November 2010 and was the first superfast broadband satellite launched in Europe.
·; Avanti's second satellite called HYLAS 2 is fully funded and will launch in Q2 2012. It will extend Avanti's coverage to Africa and the Middle East.
About TigrisNet
TigrisNet was established in 1998 in United Kingdom and has grown rapidly over the years. It is now an international firm with offices in the United Kingdom, USA, Iraq and Egypt. The company offers VSAT connectivity allied to IT design and implementation to ensure complete delivery of projects. They also offer a full range of value added applications such as voice over IP, video conferencing, software and enterprise network development, web design and hosting services. Their clients are mainly in the ISP, enterprise and government sectors and include the Iraqi Ministries of Oil, Electricity and Industry.
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