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SatixFy Communications Ltd. has successfully completed its business combination with Endurance Acquisition Corp. after stockholder approval on
On June 28, 2022, SatixFy, with support from the UK Space Agency and ESA, demonstrated a high-speed, low-latency 5G-enabled link with a LEO satellite using its advanced antenna technology. This positions SatixFy well within the emerging direct-to-cell satellite 5G market. The company has developed the Prime 2.0 Digital Beamforming ASIC, which enhances performance and allows for large antenna arrays to service multiple devices efficiently. SatixFy aims to be a key player in future 5G satellite technologies, especially after its proposed merger with Endurance Acquisition Corp., trading under NASDAQ: EDNC.
SatixFy has launched its Onyx Aero terminal, featuring cutting-edge Electronically Steered Multibeam Antenna Array (ESMA) technology, designed for in-flight connectivity. The terminal can connect with multiple satellite constellations simultaneously, delivering high data rates. Its compact design ensures low weight, drag, and cost-effective installation on aircraft. Scheduled for test flights in late 2022 and full certification in early 2023, Onyx Aero promises to significantly enhance passenger connectivity. This release comes as SatixFy prepares for a merger with Endurance Acquisition Corp. (NASDAQ: EDNC).
SatixFy Communications has achieved a significant milestone with the demonstration of a high-speed, low-latency 5G-enabled link with a LEO satellite, supported by the UK Space Agency and ESA. This event showcased SatixFy’s compact electronically steered antenna, successfully managing links with both LEO and GEO satellites. The company anticipates a $35 billion revenue potential in SatCom services by 2030. The terminal will undergo further testing for mobility services integration, positioning SatixFy favorably in the emerging 5G market.
SatixFy Communications has appointed David Ripstein as the new CEO, effective June 27, 2022. Ripstein previously held CEO roles at RADCOM and GreenRoad Technologies. The company is finalizing a business combination with Endurance Acquisition Corp. (NASDAQ: EDNC), expected to close in the second half of 2022. This merger is aimed at enhancing SatixFy’s growth in satellite communications. Yoav Leibovitch remains as Chairman and CFO. The transaction will enable aggressive sales strategies with expected revenue growth.
SatixFy Communications Ltd. announced the passing of its Co-Founder and CEO, Yoel Gat, on April 8, 2022. His passing marks a significant loss for the company, which credited him as a key driver behind its growth. Yoav Leibovitch, the CFO, has been appointed Interim CEO until the new CEO starts on June 26, 2022. Additionally, SatixFy is involved in a business combination agreement with Endurance Acquisition Corp. (NASDAQ: EDNC). The company develops next-gen satellite communication systems powered by proprietary chipsets.
SatixFy Communications has announced a management transition ahead of its public listing via a merger with Endurance Acquisition Corp (NASDAQ: EDNC). Co-Founder and CFO Yoav Leibovitch will become Co-Chairman of the Board, while Yoel Gat, Co-Founder and CEO, will also serve as Co-Chairman after stepping down as CEO. A new CEO is expected to be appointed by June 26, 2022, bringing extensive experience in communications. This transition follows a planned succession initiated in fall 2021 and is aimed at supporting the company's growth as a publicly traded entity.
SatixFy Communications Ltd. announced a definitive merger agreement with Endurance Acquisition Corp. (NASDAQ: EDNC) to become publicly listed. The transaction could yield up to $350 million in gross proceeds, including a $29 million PIPE investment from major institutional investors. This merger implies a pro forma equity value of approximately $813 million. With anticipated revenue of at least $40 million in 2022 from existing contracts, SatixFy targets significant growth in the $20 billion satellite services market by 2029. The deal has been approved by both companies' boards and awaits shareholder approval.
