Beijing Xinwei Technology Group announced on August 24 that one of its subsidiary companies is planning to purchase 100 percent of the shares of Space-Communication Ltd. (SCC), the only satellite operator in Israel whose service covers Europe, Middle East, Africa and Asia.
Xinwei has been devoted to becoming an internationally integrated information service provider.
The purchase of the Israeli operator is expected to benefit its global information net building strategy and hasten the layout of the combination of satellite and ground communication, which should strengthen the advantage of the combination method and create a good environment for the construction of the international space website system.
Xinwei will obtain a rare orbital resource. The global communications satellite market is now in reconstruction and the valuable orbital positions in space are scarce. Most of SCC’s coverage is in areas with an increasing need of satellite communications service, particularly the middle East.
Xinwei’s announcement indicates that SCC is in good business condition. Once the purchase is completed, Xinwei may proceed to acquire the Israeli professional satellite operation team.
