Sky and Space Global in deal with $7b tech giant
ASX-listed Sky and Space Global has attracted another big-name partner as it counts down to the launch of its global nano-satellite communication network in the second quarter of next year.
The Perth-based company announced this week it had entered into a memorandum of understanding with a subsidiary of US$7 billion tech giant Flextronics, the world’s second largest tech manufacturing services company after Foxconn.
Under the agreement, Sky and Space Global and Flextronics will work immediately towards a binding agreement to develop a line of affordable electronic hardware products tailored for Sky and Space Global’s nano-satellite network.
The new agreement follows last week’s news that Sky and Space Global had entered into a binding agreement with Sir Richard Branson’s Virgin Galactic to use LauncherOne to ferry nano-satellites into space.
The company has secured four missions on LauncherOne from 2018, with each mission delivering multiple nano-satellites into space, allowing Sky and Space Global to establish its “full constellation” of up to 200 nano-satellites in rapid succession.
Sky and Space Global recently begun construction of its first three miniature satellites and is counting down to a Q2 17 launch after successfully completing a key test of its innovative technology.
The Perth-headquartered company, which has its aerospace operations in Europe, has a bold plan to disrupt the global satellite communications industry with nano-satellites, which are cheaper, smaller and easier to launch than traditional satellites.
The company sees major opportunities for its wholesale, narrowband, low-cost voice, text and data network in remote areas and in industries such as shipping and aviation, which are currently poorly serviced by the cellular players.
Sky and Space Global’s CEO, Meir Moalem, said “The signing of this MOU with Flextronics marks the commencement of a key relationship with a top-tier OEM partner. Together, we can develop affordable end user devices that will allow Sky and Space Global customers to manage their nano-satellite communication systems. We look forward to continuing to deliver strong operational momentum ahead of the launch of the company’s pilot constellation.”
Sky and Space Global (SAS)
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