It’s been 20 years since the last big round of satellite bankruptcies. With Intelsat, OneWeb, Speedcast, and Global Eagle filing for bankruptcy, and several others teetering, 2020 will be known as the new year of reckoning for many satellite companies.
In his first interview as Speedcast CEO, Joe Spytek speaks with SpaceNews about exiting Chapter 11 bankruptcy and the company’s next steps.
Satellite communications provider Speedcast emerged Thursday from nearly a year in Chapter 11 bankruptcy protection under private equity ownership.
Satellite communications provider Speedcast is scheduled to emerge from Chapter 11 bankruptcy by March 31 after winning approval to reorganize under a new owner, private Equity firm Centerbridge Partners.
Rationalization of the startup landscape and the right sizing of company balance sheets is inevitable, paving the way for “Space 3.0,” which will see the profitable and sustainable exploitation of entirely new market opportunities, backed by a growing base of enlightened stakeholders.
The coronavirus pandemic is making it harder for Iridium to line up customers for its recently upgraded satellite constellation, but isn’t expected to reverse the company’s six-year annual growth streak, according to CEO Matt Desch.
For consumer adoption of broadband from satellites in low or medium Earth orbits, inexpensive flat-panel antennas are “critical,” said Pradman Kaul, Hughes Network Systems president and CEO.
No near-term satellite orders for ABS • Amazon joins SIA • Speedcast, Australian Space Agency team up
Fleet operator ABS expects to wait until 2021 before planning additional satellites.
Satellite communications providers are forming partnerships, making acquisitions and developing new business models in anticipation of new satellite constellations and surging demand for data links.
Speedcast’s revenues more than doubled in 2017 as the satellite network operator began leveraging its acquisitions of U.S. companies Harris CapRock and UltiSat.
The requirement for higher and higher bandwidth will remain the major driver shaping future satellite infrastructure and services in the next five years, according to Mark Dankberg, chairman and CEO of Viasat.
WASHINGTON — Satellite connectivity provider Speedcast of Australia is buying UltiSat, a U.S. satellite network operator whose teleport is in Denmark, for at least $65 million, Speedcast announced Sunday night.