"The agreement, which will be governed within the international regulatory framework, gives NewSat exclusive use of one slot, 50 percent of the frequencies of another two slots and options over a further four slots," the company said in a statement.
Kypros Satellite is a Cyprus based company founded in 2006 "to build, launch and operate a global constellation of satellites to address the growing communications needs of land based, maritime and aeronautical markets."
The company appears to be moribund. Prior to NewSat's announcement, Kypros' profile was non-existent. A Google search on the company's name produced not one hit that was not related to the company's own site or to today's announcement by NewSat. The site has sections for customers and partners, but lists none
According to Kypros' web site it has seven orbital locations "selected to provide landmass, trans-oceanic and oceanic coverages, in order to meet the requirements of different network designs and configurations...[and able to] support fixed, mobile and broadcasting satellite service applications for a wide range of terminal types and sizes."
The locations are 174.5 degrees West, 56W, 52.5W, 22.5E, 54E, 89.5E, 90E, 107.5E. This web page shows their respective coverage areas. http://planetskyorbital.net/technical-information/technical-highlights
NewSat CEO, Adrian Ballintine, said: "We are now in a position to launch multiple satellites, each of which could generate in excess of $100 million of EBITDA per year."
However, the company has yet to confirm that it will proceed with its planned Jabiru satellite. However it said it had already: entered into a number of agreements to sell significant capacity to high value customers; received detailed submissions from the world's premium satellite manufacturers; substantially progressed funding for Jabiru-1; and commenced preliminary work on satellites beyond Jabiru-1 and Jabiru-2
NewSat will pay five cash instalments and a sixth and final instalment in ordinary shares on December 1st, 2011. The financial terms are confidential but NewSat says it expects to release these at a later date.
"NewSat's board advises that cash consideration payable is well within the means of the company and can be satisfied via available cash and reserves," the company said. In addition, NewSat will share a portion of the cost of maintaining the orbital slot filings.
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