Ipstar Australia acquires stake in satellite operator
February 12, 2014 00:00 By The Nation 3,013 Viewed
Thaicom subsidiary Ipstar Australia has announced its acquisition of an equity stake in Orion Satellite System, a satellite operator and fully integrated solutions provider to leading Australian state and private organisations, as well as the Pacific Isla
Ipstar Australia acquired the equity stake via the purchase of an issue of paid-up capital-raising stocks valued at 13.37 million Australian dollars (Bt395.5 million).
The objective is to broaden business opportunities to reach its target clients – state agencies and private organisations – to provide satellite signal service via the Thaicom 4 satellite that covers Australia, and to supplement the channels and service for Australia’s National Broadband Network, for which Ipstar Australia is currently a major service provider.
According to Thaicom president and chief executive officer Suphajee Suthumpun, his company has the capability to seize and expand on overseas business opportunities and coverage via its stake in Orion Satellite System, which is in line with Thaicom’s vertical-growth business strategy for the long term.
In addition, this would strengthen Thaicom’s capabilities in providing end-to-end service for its clients through the expertise of a premium satellite operator and fully integrated solutions providers such as Orion.