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Hispasat secures capacity on the EUTELSAT KONNECT satellite for high-speed broadband in Spain and Portugal
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
Eutelsat Communications and Hispasat have signed a multi-year strategic agreement for wholesale capacity on the EUTELSAT KONNECT satellite. This collaboration aims to enhance high-speed broadband access in Spain and Portugal, thereby addressing the digital divide. The deal is projected to generate a high-single digit million euro annual revenue at full capacity. Under this agreement, Hispasat will become the exclusive operator in the Iberian region, complementing its existing services with Eutelsat's capabilities, bolstering their market presence following similar agreements in France, Italy, and Germany.
Positive
The agreement is expected to create a new high-single digit million euro annual revenue stream for Eutelsat.
Hispasat will be the exclusive distributor of EUTELSAT KONNECT's capacity in Spain and Portugal, strengthening market position.
This partnership demonstrates the growing significance of satellite technology in expanding broadband access.
Further confirming the role of satellite in expanding the availability of high-speed broadband to bridge the digital divide
PARIS--(BUSINESS WIRE)--
Regulatory news:
Eutelsat Communications (Euronext Paris: ETL) and Hispasat, the satellite telecommunications operator of the Red Eléctrica Group, have entered into a multi-year strategic agreement for wholesale capacity on the EUTELSAT KONNECT satellite with the objective of supporting ubiquitous access to high-speed fixed broadband in Spain and Portugal.
The capacity will serve to promote initiatives to bridge the digital divide in Spain and Portugal Hispasat has already implemented. Under the agreement, Hispasat will complement its current capacities with those of the EUTELSAT KONNECT satellite over the two countries, thereby operating in collaboration with Eutelsat and marketing high-quality broadband connectivity services at 100 Mbps to telecommunications operators and Internet Service Providers.
Under the agreement, which is effective immediately, Hispasat has committed to the Iberian capacity on EUTELSAT KONNECT becoming the exclusive operator and distributor of the capacity in Spain and Portugal. The agreement represents a high-single digit €m annual revenue stream at full speed. At a later stage, the agreement could be extended to future capacity.
It follows wholesale contracts with Orange in France and TIM in Italy for capacity covering their respective markets, and the recent distribution agreement with Deutsche Telekom for Germany, further underlining the role of satellite as a cost-effective, off-the-shelf and reliable infrastructure to extend coverage beyond the reach of terrestrial networks.
In service since November 2020, EUTELSAT KONNECT has a total capacity of 75 Gbps, offering speeds of up to 100 Mbps to both companies and individuals in the digital divide at competitive monthly rates.
Commenting on the agreement, Rodolphe Belmer, Chief Executive Officer of Eutelsat said: “We are delighted by this strategic deal with our long-standing partner, Hispasat. Coming after wholesale agreements covering France and Italy, and a distribution deal for Germany, this latest commitment by a satellite operator to cover the territories of Spain and Portugal confirms the relevance of powerful, cost-efficient next generation geostationary satellites as an immediate solution to the ubiquitous deployment of reliable, high-speed broadband.”
Miguel Ángel Panduro, CEO of Hispasat added: “Digitalisation cannot be addressed without having guaranteed connectivity everywhere first. Satellite technology has evolved and permits Internet access at 100 Mbps immediately from any location, no matter how inaccessible it is. At Hispasat we are fully committed to the goal of providing all citizens Internet access and contributing to digitalising economic activity regardless of geographic location. That’s why we have entered into this partnership with Eutelsat to complement our current capacity”.
About Eutelsat Communications
Founded in 1977, Eutelsat Communications is one of the world's leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. Around 7,000 television channels operated by leading media groups are broadcast by Eutelsat to one billion viewers equipped for DTH reception or connected to terrestrial networks. Headquartered in Paris, with offices and teleports around the globe, Eutelsat assembles 1,200 men and women from 50 countries who are dedicated to delivering the highest quality of service.
What is the strategic agreement between Eutelsat and Hispasat about?
Eutelsat and Hispasat's strategic agreement focuses on wholesale capacity on the EUTELSAT KONNECT satellite to enhance high-speed broadband access in Spain and Portugal.
How much revenue is expected from the Eutelsat and Hispasat agreement?
The agreement is expected to generate a high-single digit million euro annual revenue at full capacity.
When did Eutelsat and Hispasat enter into their agreement?
The agreement between Eutelsat and Hispasat is effective immediately.
What markets are served by the EUTELSAT KONNECT satellite?
EUTELSAT KONNECT serves markets in Spain and Portugal through this new partnership.
How does the agreement impact broadband access in Spain and Portugal?
The agreement aims to bridge the digital divide by providing high-quality broadband connectivity services at speeds of 100 Mbps.
