Bezeq Exits Satellite Business
[Satellite Today – 3-27-08] Israeli telecommunications company Bezeq has reached an agreement to sell its satellite business to RRSat Global Communications, the companies announced March 27.
RRSat, a provider of content management and global distribution, will pay nearly $15 million in cash to acquire Bezeq’s space assets, which include property and assets of Bezeq’s Emek Ha’ela Teleport in Israel as well as Bezeq’s BezeqSat and 711 business units. BezeqSat provides services to TV and radio channels such as BBC, CNN and others, while 711 provides global satellite communication services and serves as a primary distribution center for Inmarsat.
As part of the transaction, RRSat will assume Bezeq’s existing satellite business and customer contracts, which accounted for revenues of about $7 million in 2007. RRsat expects the deal to close in the third quarter.