Thaicom Forms LEO Joint Business Venture with Cat Telecom
Thaicom and CAT Telecom revealed a joint satellite business venture to help strengthen Thailand’s telecommunications infrastructure and to support the growth of the digital economy industry and satellite industry. CAT Telecom said the joint venture would lead to the development of telecom services via Low-Earth Orbit (LEO) satellite systems serving Thailand.
The two companies are partnering to form a joint venture company called Nation Space and Technology Company Limited. The joint venture has a registered capital of approximately $323,625 (10 million Baht). Thaicom holds a 75 percent stake, whereas CAT holds a 25 percent stake in the joint venture.
Anant Kaewruamvongs, Thaicom Chief Executive Officer, commented: “The announcement of a new joint venture company, Nation Space and Technology Co., Ltd., will enhance a strategic partnership between the two companies. Thaicom has long experience and expertise in the satellite industry. Together with CAT’s extensive know-how in providing digital solutions, the two companies will leverage advanced solutions and advanced satellite services for various applications and digital industries. We believe this strategic alliance between Thaicom and CAT will lay the foundation for a long-term partnership and a sustainable growth of the country’s telecommunication services.”