Yahsat Makes Strategic Move into IoT Arena, Acquiring Stake in eSAT Global
Yahsat has made a move in the Internet of Things arena, acquiring a minority stake in eSAT Global, an IoT connectivity solutions provider that aims to bring a low-cost, low latency, direct-to-satellite IoT service to market. Yahsat announced the deal Oct. 11. Yahsat sees the investment in eSAT representing an opportunity to participate in a fast-growing sector, that it believes is still significantly under-penetrated, and is aligned with the company’s strategy.
In addition to Yahsat’s investment in eSAT, Thuraya, its mobility business, has signed a commercial agreement with eSAT, which will provide Thuraya with secure and long-term access to an end-to-end Low Power Wide Area Network (LPWAN) IoT system and portfolio. The system will work over Thuraya’s mobile satellite services GEO assets and provide customers with IoT portfolio access on a global scale, by leveraging Yahsat’s group’s presence in over 150 countries.
“Yahsat’s investment in eSAT, combined with Thuraya’s commercial agreement, is aligned with our belief in the outsized impact of the IoT sector for the satellite and space industry today and in the years to come. Through this partnership, we will be able to serve our customers even more effectively by offering smart, reliable, and customizable solutions that will unlock new and exciting opportunities across a range of sectors,” Ali Al Hashemi, Yahsat CEO, said in a statement.