uCloudlink Teams up with London-based Business Partner, Preparing for Europe Summer Travel Re-opening

Rhea-AI Summary

uCloudlink Group Inc. (NASDAQ: UCL) has signed a new distribution agreement with a London-based partner to market and distribute its mobile broadband products in Europe. As European tourism resumes, the demand for reliable mobile data connectivity is expected to rise. This partnership is part of uCloudlink's strategy to expand its sales network in Europe. The company is also investing in R&D and has formed additional partnerships, including one with Lions Den Rental Corp Ltd. These initiatives aim to enhance uCloudlink's hyper-connectivity solutions and strengthen its position in the European market.

Positive

• New distribution agreement with a London-based partner to expand market presence in Europe.
• Strong focus on R&D to innovate in data connectivity, enhancing competitiveness.
• Multiple partnerships, including with Lions Den, boosting operational capabilities in Europe.

Negative

• None.

HONG KONG, June 28, 2021 /PRNewswire/ -- UCLOUDLINK GROUP INC. (NASDAQ: UCL, "uCloudlink"), the world's first and leading mobile data traffic sharing marketplace, is continuing to strengthen its presence in Europe with a new distribution agreement with a London-based business partner. Under the non-exclusive agreement, the new partner will market, distribute and sell uCloudlink's mobile broadband (MBB) products and services in the European market.

As Europe is preparing to welcome tourists back, need for stable mobile data connectivity while traveling increases accordingly. It is reported that The European Council has updated its list of countries/regions whose citizens and residents should be allowed to travel freely to its 27 member nations, while the UK is also planning to open up international travel for fully vaccinated passengers and resume tourism with more than 150 countries and regions as the vaccination program keeps going. 

uCloudlink continues to focus on user experience of data connectivity services over mobile network via its hyper-connectivity technology through PaaS and SaaS platform. The cooperation with this London-based partner is one of uCloudlink's business plans to broaden its sales network in Europe and cements its long-standing commitment to improving data connectivity across the world and bringing high-quality, innovative hyper-connectivity solutions to more Europeans. uCloudlink continues to leverage its ever-expanding global network to bring its new technology to users all over the world, while generating positive outcomes for its business partners.

The new partner joins a growing roster of partnerships dedicated to promoting uCloudlink's innovative MBB products and services in the European market. Also, uCloudlink inked a strategic agreement with Lions Den Rental Corp Ltd. ("Lions Den"), a global Internet services provider in the United Kingdom. Furthermore, early this year, uCloudlink also invested in iQsim based in France. The investment enables uCloudlink to rapidly expand its presence with mobile network operators (MNOs) and business partners in Europe.

To better supporting its business partners and their users, uCloudlink offers flexible cooperation models that suit a range of industries and scenarios, such as business partners and mobile network operators (MNOs), which will also facilitate the company to build its PaaS and SaaS ecosystem for the hyperconnected world which can facilitate the company to establish the leading technological position of our PaaS and SaaS platform in the early stage of 5G.

At the same time, uCloudlink continues to invest in R&D to ensure it remains an innovator in the data connectivity market. With its growing partner network and cutting-edge technology, uCloudlink is well-placed to continue its growth momentum and deepen its presence in the European market in the future.

About UCLOUDLINK GROUP INC.

uCloudlink is the world's first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company's products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, while providing reliable connectivity, high speeds and competitive pricing.

CONTACT:
Carina Cheung
carina-pr@ucloudlink.com

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SOURCE UCLOUDLINK GROUP INC.

FAQ

What is the recent partnership of uCloudlink Group Inc. in Europe?

uCloudlink has signed a distribution agreement with a London-based partner to market its mobile broadband products in Europe.

How does uCloudlink plan to enhance its presence in the European market?

uCloudlink aims to enhance its presence through new partnerships and continued investment in R&D for better mobile connectivity solutions.

What is the stock symbol for uCloudlink Group Inc.?

The stock symbol for uCloudlink Group Inc. is UCL.

When did uCloudlink announce its new partnership?

uCloudlink announced its new partnership on June 28, 2021.

Why is uCloudlink focusing on the European market now?

uCloudlink is focusing on the European market as tourism is resuming, increasing the demand for stable mobile data connectivity.