[Satellite TODAY 12-21-09] Norsat‘s investment business, Norsat Capital, has made its first strategic investment in a Malawi, Africa-based wireless broadband operator Tonse Solutions, Norsat announced Dec. 18.
    Norsat has invested a total of $1.1 million in Tonse, with $468,000 representing a 19.99 percent equity stake in Tonse and $656,000 into a three-year convertible bond carrying an interest rate of 10 percent.
    Norsat also received a $937,000 purchase order from Tonse for wireless equipment and software to build a wireless broadband system in Lilongwe, Malawi.The target markets initially will be government, corporate, public and private schools, hospitals, hotels, and NGOs.
    As the operation expands in Malawi, the customer base will be expanded to include individual consumers. “This is an important initiative for Norsat to develop a reference site for our wireless networking division,” Norsat CEO Amiee Chan said in a statement.