STM Group Leases Capacity On Hylas
[12-3-07 – Satellite Today] STM Group signed a 15-year deal with Avanti Communications Group for capacity on the Hylas satellite, Avanti announced Dec. 3.
STM, a supplier of IP networking solutions via satellite, intends to use the capacity to provide broadband and corporate data services in Europe when Hylas is launched in early 2009. The agreement is valued at 8.8 million British pounds ($18 million).
“I am pleased to report that, as expected, we are converting our sales pipeline into a backlog of committed revenues in advance of the launch of Hylas,” David Williams, Avanti’s CEO, said in a statement. “We have growing confidence in our market and in the value of our satellite capacity, which we expect to reinforce with further contract wins soon.”