Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Israel
  4. TEL AVIV STOCK EXCHANGE
  5. Space-Communication Ltd
  6. News
  7. Summary
    SCC   IL0010923451

SPACE-COMMUNICATION LTD

(SCC)
  Report
SummaryQuotesChartsNewsCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Space Communication : Hungary's IT company 4iG signs agreement to acquire 51% stake in Israel's Space-Communication

06/16/2021 | 01:31am EDT

Budapest-listed IT company 4iG said on June 15 that it signed a non-binding letter of intent to acquire a 51% stake in Space-Communication (SpaceCom), an Israeli fixed-satellite operator and satellite service provider.

4iG signed the LOI together with its subsidiaries Hungaro DigiTel and CarpathiaSat, the company said. 4iG will acquire 51% of Spacecom through a €54.6mn private placement. 

Spacecom operates the AMOS satellite network of four geosynchronous satellites providing global broadcast and broadband satellite services. The company is listed on the Tel Aviv Stock Exchange and its revenues were $88mn (€72.53mn) with an ebitda of $52mn in 2020.

"Following a preliminary agreement with Spacecom, I am confident that we will be able to complete the transaction this autumn, which would also mean that the 4iG Group has successfully completed its first international acquisition,” 4iG’s CEO Geller Jaszai said in a statement.

“I consider this transaction as a milestone not only in the growth of our group, but also in the preparation of an agreement that could open new doors for Hungary in the space industry and space telecommunications," Jaszai also said.

Other than due diligence that 4iG will carry out, the completion of the transaction is subject to obtaining the approval of SpaceCom’s general meeting and of the Israeli Ministry of Communication.

 

 

 

©2021 bne IntelliNews , source Magazine

Stocks mentioned in the article
ChangeLast1st jan.
SPACE-COMMUNICATION LTD 3.00% 594.8 Delayed Quote.27.94%
THE TEL-AVIV STOCK EXCHANGE LTD. 3.10% 1662 Delayed Quote.1.65%
All news about SPACE-COMMUNICATION LTD
10/12SPACE COMMUNICATION : Hungary's 4iG Telecom Group Acquires Control of Spacecom at Valuatio..
PU
08/31Space-Communication Ltd Reports Earnings Results for the Second Quarter Ended June 30, ..
CI
08/18SPACE COMMUNICATION : Spacecom and Get SAT Demonstrate Superior Results for Micro Sling Bl..
PU
08/18Space-Communication Ltd and Get Sat Demonstrated Superior Results for Micro Sling Blade..
CI
07/12SPACE COMMUNICATION : Spacecom and Yes DTH Extend Service Agreement for Additional Two Yea..
PU
07/05SPACE COMMUNICATION : Magyar Telekom's T-Home DTH, Member of Deutsche Telekom Group, Exten..
PU
06/29SPACE COMMUNICATION : Spacecom Deepens African Presence with Strategic Partnership and Inv..
PU
06/29SPACE COMMUNICATION : Magyar Telekom's T-Home DTH, Member of Deutsche Telekom Group, Exten..
PU
06/16SPACE COMMUNICATION : Hungary's IT company 4iG signs agreement to acquire 51% stake in Isr..
AQ
06/154iG in Talks to Buy 51% Stake in Spacecom
CI
More news
Financials (USD)
Sales 2020 87,8 M - -
Net income 2020 -35,3 M - -
Net Debt 2020 314 M - -
P/E ratio 2020 -3,18x
Yield 2020 -
Capitalization 44,7 M 44,6 M -
EV / Sales 2019 5,20x
EV / Sales 2020 3,98x
Nbr of Employees 56
Free-Float 48,8%
Chart SPACE-COMMUNICATION LTD
Duration : Period :
Space-Communication Ltd Technical Analysis Chart | SCC | IL0010923451 | MarketScreener
Technical analysis trends SPACE-COMMUNICATION LTD
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Managers and Directors
Dan Zajicek Chief Executive Officer
Avi Levy Chief Financial Officer
Moshe Golani Senior Vice President-Operations & Engineering
Avi Morgenstern Vice President-Operations & Information Systems
Zafrir Holtzblat Independent External Director
Sector and Competitors
1st jan.Capi. (M$)
SPACE-COMMUNICATION LTD27.94%45
WALT DISNEY COMPANY (THE)-2.61%316 925
COMCAST CORPORATION3.03%247 800
VIACOMCBS INC.4.46%25 633
THE LIBERTY SIRIUSXM GROUP12.07%16 183
FORMULA ONE GROUP27.54%12 661