Eutelsat Communications has acquired Noorsat from Bahrain’s Orbit Holding Group for $75 million.
Established in 2004, Noorsat is the premier distributor of Eutelsat capacity in the Middle East, serving blue-chip customers and providing services for over 300 TV channels almost exclusively from Eutelsat’s MENA neighbourhoods at 7/8° West and 25.5° East.
Michel Azibert, Eutelsat chief commercial and development officer, said: “Noorsat’s capabilities and market knowledge will further consolidate our longstanding position in the dynamic Middle East video market. By integrating Noorsat’s service platform and teams we are underlining our commitment to serving customers in one of the key markets within in our global footprint.”
The acquisition will add upwards of $15 million to Eutelsat’s consolidated revenues on an annualised basis after the elimination of the capacity leased by Eutelsat from Noorsat.
The acquisition will allow Eutelsat to strengthen the long term commercial development of its video positions in the Arabic world and increase its direct access to end-customers, facilitating stimulation of High Definition TV take-up and the upselling of incremental video services.