Spacecom gets $8.6 million follow-on Hungary deal for satellite services
Last month, the Israel-based satellite services company said it was in talks for a 51% stake to go to another Hungarian telecom firm, 4iG
Add ToI as a Preferred Source on GoogleShoshanna Solomon was The Times of Israel's Startups and Business reporter
Spacecom, provider of satellite services and owner-operator of the AMOS satellite fleet, said Monday that a Hungarian telecom provider has signed a follow-on contract for the Israeli firm’s services. The new deal is worth at least $8.6 million and secures services until the end of 2024.
The contract was signed with T-Home DTH (direct-to-home) service, a provider of direct-to-home services in Hungary and a brand of Magyar Telekom, the principal provider of telecom services in Hungary, Spacecom said in a statement.
The T-Home DTH platform currently broadcasts over 160 channels throughout Hungary via the some of the AMOS satellites. As the country’s largest TV broadcasting service, the company reaches over 33% of Hungarian households.
Hungary is a key Spacecom market, the statement said. Last month, Spacecom said it was negotiating with 4iG Plc., a Hungarian information technology and telecommunications company, for the latter to take a majority 51 percent stake in the Israel-based satellite services company. According to Spacecom CEO Dan Zajicek, “the deal will strengthen and widen Spacecom’s operating potential in Eastern Europe and create joint ventures and synergy between the companies.”
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