SatixFy Communications Secures New Valuable Agreements
REHOVOT, Israel -- SatixFy Communications Ltd. (“SatixFy”) (NYSE American: SATX), a frontrunner in the next-generation satellite communication industry, has signed significant agreements valued at a total of $10 million, including $5 million from new contracts and an additional $5 million prepayment related to an existing contract with MDA Space Ltd. (“MDA Space”) (TSX: MDA). This bulk of agreements further solidifies the collaboration that began between the two companies.
Highlights of the Recent Agreements
The agreements comprise an amendment to the original Master Purchase Agreement (MPA Amendment), which incorporates an additional $3 million into the scope of existing contracts. Alongside this, the previously announced $5 million prepayment is now executed. An essential Authorization to Proceed (ATP) agreement has also been finalized, establishing the terms of two milestone payments that total $2 million, setting the groundwork for future purchase orders.
Comments from Leadership
Nir Barkan, the Chief Executive Officer of SatixFy, expressed optimism about the partnership. He stated, "MDA Space has remained a robust partner for SatixFy. Our continued growth and expansion alongside them is something we value, particularly building on our $60 million transaction from last year. These new agreements could enable us to achieve significant double-digit revenue growth rates in the upcoming year.”
Strategic Partnership and Future Visions
Barkan underlined the strategic significance of these agreements, emphasizing their role in reinforcing SatixFy’s technology as integral to MDA Space’s operations. The agreements reflect the rising demand for SatixFy’s innovative solutions, marking a substantial achievement in their long-term growth strategy. This collaboration is poised to position SatixFy’s advanced space-grade chips as the foundational technology supporting global communications through upcoming Low Earth Orbit (LEO) and Geostationary Orbit (GEO) satellite constellations.
About SatixFy and Its Technologies
SatixFy specializes in developing cutting-edge end-to-end satellite communication systems. Their products include multi-beam digital antennas, user terminals, and modems, all based on in-house developed, powerful chipsets. Among their advanced offerings are modems featuring Software Defined Radio (SDR) capabilities and Fully Electronically Steered Multi Beam Antennas (ESMA), which support the advanced DVB-S2X communications standard. These innovations enhance the performance of satellite communications systems while optimizing weight and power requirements.
Additionally, SatixFy’s state-of-the-art Very Small Aperture Terminals (VSATs) and multi-beam antennas are tailored for a range of mobile applications utilizing satellite systems across LEO, Medium Earth Orbit (MEO), and GEO. These products are particularly designed for in-flight connectivity and communications-on-the-move services, positioning SatixFy at the forefront of the industry.
Company Headquarters and Reach
Headquartered in Rehovot, Israel, SatixFy has expanded its footprint, establishing additional offices in the U.S., U.K., and Bulgaria. The company aims to lead the satellite communications field, responding effectively to the evolving technological landscape.
Frequently Asked Questions
What kind of agreements has SatixFy recently signed?
SatixFy signed agreements totaling $10 million, consisting of new contracts and a prepayment related to an existing contract.
Who is MDA Space?
MDA Space is a leading global provider of advanced technology and services for the space industry.
How will these agreements benefit SatixFy?
These agreements are expected to allow SatixFy to achieve significant revenue growth and reinforce their position as a key technology provider.
What technologies does SatixFy develop?
SatixFy develops next-generation satellite communication systems, including digital antennas and modems with advanced chipsets.
Where is SatixFy located?
SatixFy is headquartered in Rehovot, Israel, with additional offices in other countries including the U.S., U.K., and Bulgaria.
