Subscribe to CIO Magazine »

NewSat wins nine-figure deal

Satellite company NewSat (ASX:NWT) secured a satellite capacity deal for its upcoming Jabiru-1 craft worth up to $US114m

Satellite company NewSat (ASX:NWT) has signed a deal worth up to $US114 million ($110.44 million) to provide capacity on its upcoming Jabiru-1 satellite.

The three-year deal, which has a minimum value of $US105 million, will see NewSat provide transmission capacity for global communications service provider TrustComm in the Middle East.

Countries covered under the arrangement include Afghanistan, Iraq, Saudi Arabia, Yemen, Qatar and Pakistan.

NewSat founder and CEO, Adrian Ballantine, said the major deal is “tangible evidence of the step-change taking place ... as we move from being a reseller of satellite capacity to the owner of satellites”.

He said NewSat will earn around US$28 million of the contract's value in the first year after the launch of Jabiru-1. The Ka band geostationary satellite is scheduled to take off in the last quarter of 2012.

To help fund the Jabiru-1 project, the company in May entered into financing deals, including a placement and bank facility, worth $12 million. Earlier in the year, NewSat arranged to acquire the orbital slots required to support the Jabiru fleet.

NewSat last month revealed it had won a total of $16 million worth of new business in FY11.

NWT shares grew 40 per cent in Wednesday's trading to $0.007.

Follow Computerworld Australia on Twitter: @ComputerworldAU

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

References show all
Comments are now closed.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: jabiru-1, satellite, NewSat, business, Adrian Ballantine
Latest Blog Posts
  • IBM X-Force Threat Intelligence
    In the second half of 2013, the advancement of security breaches across all industries continued to rise. Within this report, we’ll explain how more than half a billion records of personally identifiable information (PII) such as names, emails, credit card numbers and passwords were leaked in 2013 - and how these security incidents show no signs of stopping.
    Learn more »
  • Information Management
    Valuable data can be a needle in a haystack, but by leveraging the value in existing information assets, organisations can generate real and achievable gains in revenue generation, IT investments and productivity gains. This whitepaper discusses how Information Management (IM) is a multi-faceted discipline that can be employed to meet or exceed your business objectives.
    Learn more »
  • The F5 DDoS Protection Reference Architecture part 3 of 3
    This whitepaper is the third in a three-part series on distributed denial of service attacks (DDoS) and multi-tier DDoS protection. This section refers to case studies of different approaches to deploying protection architecture, including an enterprise customer scenario, an FSI customer scenario and an SMB customer scenario. The paper explains how these options should provide the flexibility and needed to combat the modern DDoS threat.
    Learn more »
All whitepapers
rhs_login_lockGet exclusive access to Invitation only events CIO, reports & analysis.
Latest Jobs
Salary Calculator

Supplied by

View the full Peoplebank ICT Salary & Employment Index

Recent comments