LONDON (Alliance News) - Satellite communications company Inmarsat PLC on Friday said it has signed a memorandum of understanding with Turksat, the Turkish state-owned satellite operator, to create a strategic partnership.
Under the agreement, Inmarsat would become the preferred mobile satellite communications provider to Turksat, boosting the London-listed firm's presence in the Caucuses and Central Asia.
"This is an excellent opportunity for both companies to explore new opportunities. We value all of our partnerships and hope to develop a long-lasting and mutually beneficial strategic partnership with Turksat in the coming months," said Rupert Peace, Inmarsat's chief executive.
The news came after Inmarsat said earlier on Friday it has agreed a partnership with Australian communications technology company EM Solutions to develop a combined MilSatCom/Global Xpress maritime satellite terminal.
The new terminal is expected to get full accreditation from Inmarsat in the second quarter of 2016 and will then be submitted for Wideband Global Satcom certification.
The terminal is being created for an Australian government customer. No financial details on the contract or the collaboration were disclosed.
"Today's announcement is a further example of Inmarsat's strategy of responding quickly and effectively to customer demands. In this instance, the Australian government customer was looking to increase the operational capabilities of their satellite communications within significant budget constraints and the requirement to reduce the footprint of satellite equipment on-board its new vessels," said Andy Start, the president of Inmarsat Global Government.
Inmarsat shares were down 0.6% to 1,105.00 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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