4iG Plc. May acquire a majority stake in a global-focused telecommunications satellite company this year. ) to acquire a 51% stake in the company.
SpaceCom has four geosynchronous satellites and operates them in different orbital positions (AMOS 3, AMOS 4, AMOS 7 and AMOS 17). The Israeli company offers broadcast as well as broadband satellite services to its customers worldwide. Shares of SpaceCom, which has 65 employees, are traded on the Tel Aviv Stock Exchange. The company had sales of $ 88 million in 2020 and EBITDA of $ 52 million. The company currently has a contract portfolio worth $ 300 million.
Under the preliminary agreement, 4iG and its subsidiaries would acquire an absolute controlling majority stake in the Israeli company through a private equity increase. In order to complete the acquisition, 4iG will begin screening the target company, which may make a final offer to acquire a 51 percent stake in SpaceCom based on its expected results in August.
The $ 65 million transaction is expected to close in the fall of 2021, subject to the consent of the general meeting of the company and the Israeli Ministry of Communications.
SpaceCom also has customers in Hungary, one of the most significant partners being Magyar Telekom, whose approximately 200,000 Sat TV customer base receives television services via SpaceCom’s AMOS 3 satellites.