1 Dec 2010 07:01
Date: | 1 December 2010 |
On behalf of: | Avanti Communications Group plc ("Avanti" or "the Company") |
Embargoed for release: | 0700hrs |
Avanti Communications Group plc
Contract Win
Avanti Communications (AIM: AVN), the broadband satellite operator, is pleased to announce that it has signed a five year contract worth $15.5m, with the international satellite service provider TigrisNet.
TigrisNet, has purchased capacity to provide IP based services in Europe and the Middle East delivered on both Avanti's HYLAS 1 satellite, successfully launched on November 26th, and Avanti's HYLAS 2 satellite scheduled for launch in Spring 2012.
TigrisNet is the leading VSAT (Internet via Satellite) provider in Iraq, providing a range of services that covers clients from every sector and size, including Government bodies to SMEs and local ISPs. TigrisNet is also the market leader in Video Conferencing and VoIP.
Commenting, David Williams, Avanti Chief Executive, said:
"I am delighted that Avanti is able to announce its first fleet sale involving a commitment from the customer to use both HYLAS 1 and HYLAS 2 satellites. TigrisNet operates in two of our main markets, Europe and the Middle East and has powerful and important relationships, which together with our technology should make for excellent growth beyond this initial contract and I look forward to working with them."
For further information please contact:
Avanti Communications Group Plc Tel: +44 (0) 20 7749 1600
David Williams
Cenkos Securities Tel: +44 (0) 20 7397 8900
Nick Wells / Max Hartley
Jefferies International Limited Tel: +44 (0) 20 7029 8000
Julian Smith / Oliver Griffiths
Redleaf Communications Ltd Tel: +44 (0) 20 7566 6700
Samantha Robbins / Paul Dulieu
Notes to Editors:
For further information about the next generation broadband project in Cornwall and the Isles of Scilly visit www.cornwalldevelopmentcompany.co.uk
About Avanti
¡ Avanti sells satellite broadband services at speeds of up to 10Mbps to telecoms companies which use them to supply residential, enterprise and institutional users.
¡ Avanti's first satellite, called HYLAS 1, launched on 26 November 2010 and is the first superfast broadband satellite to serve Europe.
¡ Avanti's second satellite, called HYLAS 2, is fully funded and is on target to launch in Q2 2012. It will extend Avanti's coverage to Africa and the Middle East.
¡ The market for 2Mb satellite broadband products in the markets served by Avanti is estimated at more than 100 million households.
About TigrisNet
TigrisNet was established in 1998 in United Kingdom and has grown rapidly over the years. It is now an international firm with offices in the United Kingdom, USA, Iraq and Egypt. The company offers VSAT connectivity allied to IT design and implementation to ensure complete delivery of projects. They also offer a full range of value added applications such as voice over IP, video conferencing, software and enterprise network development, web design and hosting services. Their clients are mainly in the ISP, enterprise and government sectors and include the Iraqi Ministries of Oil, Electricity and Industry.