Spacecom Buys in to Canadian Company to Boost Position in Africa
Spacecom has bought into Canadian communications company, NuRAN Wireless as it looks to boost its market position in Africa, the company announced June 29. Spacecom has signed a strategic cooperation agreement with NuRAN Wireless including a $3.2 million investment, acquiring 9.3% of NuRAN’s equity.
The partnership agreement grants Spacecom exclusive rights to provide managed services and satellite capacity for all future NuRAN African operations. This includes NuRAN’s recently won large, long-term contracts to expand Orange’s Mobile Network Operator (MNO) satellite network coverage for its Cameroon and Democratic Republic of Congo (DRC) operations. These deals, and all future ones, will utilize Spacecom’s AMOS-17 satellite. Spacecom’s expected potential annual revenue from these deals is between $2 million to $3 million.
NuRAN’s satellite-based wireless communications solutions enable MNOs to deploy sites to generate network coverage in hard-to-reach and rural regions where infrastructure is neither economically feasible nor cost-efficient.
“This strategic partnership between NuRAN Wireless and Spacecom is vital to bridge the digital gap. The companies’ combined expertise and experience will ignite the potential of the rural market. Over one-third of African population needs mobile and broadband connectivity that leads to significant growth to be captured. NuRAN’s executive team is delighted by this strategic alliance and look forward to a connected future,” Francis Letourneau, CEO of NuRAN Wireless said in a statement.
This news comes as Spacecom is in talks to be acquired by Hungarian telecommunications company 4iG in a deal that could allow Spacecom to develop Hungary’s first commercial satellite.