Addvalue and Viasat Inc. Sign Memorandum of Agreement to Pursue Offering of New Products and Applications for Use Over Viasat L-Band Managed Service Terminals
Singapore, 23 November 2015 - Addvalue Innovation Pte Ltd ("Addvalue"), a wholly-owned subsidiary of Singapore's Main Board listed company, Addvalue Technologies Ltd, has entered into a Memorandum of Agreement ("MOA") on 11 November 2015 with Viasat Inc. (NASDAQ: VSAT) to provide global broadband services and technology, and subsequently signed a Value Added Reseller Agreement on 17 November 2015 to offer new products and applications for use over Viasat L-band Managed Service terminals.
Viasat offers a worldwide, two-way, fixed and mobile Internet Protocol (IP) satellite communications service, known as the Viasat L-band Managed Service, with current operation in the regions covered by LightSquared and Thuraya satellites where one terminal can be used for seamless roaming between satellite systems.
Mr Tan Khai Pang, chief operating & technology officer of Addvalue, remarked that, "Addvalue needs to diversify its business portfolio through new partnerships to broaden its capabilities as well as modes of revenue source. As a proven product developer-cum-producer for L-band mobile satellite communications, we shall harness the technologies of the Viasat L-band Managed Service to further enhance our capabilities in the offering of two-way, satellite-based Internet Protocol communications." Mr Tan further explained that, "As this partnership avails us the opportunities for new hardware design and air time services, it will broaden our scope of business models, thereby enabling us to further reap opportunities associated with the burgeoning IoT (Internet of Things) industry as well as the emerging markets in Asia, fueled by new regional economic collaboration movements including the China-led 'Belt and Road' initiative."
"Viasat has plans to expand its portfolio of Viasat L-band Managed Service terminals," said Mr. Phil Berry, vice president and general manager, Mobile Satellite Services, Viasat. "We are confident that our collaboration with Addvalue will broaden the scope of Viasat L-band Managed Service applications and further expand our business globally, especially in China and South East Asia where Addvalue has a strong presence and maintains high-levels of engagement in emerging opportunities."
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward looking statements include statements about the ability to offer new products and applications for use over Viasat L-band Managed Service. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: contractual problems, product defects, manufacturing issues or delays, regulatory issues, technologies not being developed according to anticipated schedules, or that do not perform according to expectations; and increased competition and other factors affecting the Mobile Satellite Services industry generally. In addition, please refer to the risk factors contained in Viasat's SEC filings available at www.sec.gov, including Viasat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any reason.
About Addvalue (www.addvaluetech.com)
Addvalue Innovation Pte Ltd, a wholly-owned subsidiary of SGX Mainboard-listed Addvalue Technologies Ltd (A31), is a leading one-stop digital, wireless and broadband communications technology products innovator, which provides state-of-the-art satellite-based communication terminals and solutions for a variety of voice and IP based data applications.
Addvalue is presently a leading global developer and supplier of mobile satellite terminals supporting coverage provided by premier mobile satellite communication operators. These terminals are ideal choices for communications in areas around the world where terrestrial networks are non-existent, or ineffective. This is particularly so for maritime communications, which rely almost entirely on satellite communications, and Addvalue's products are well poised to address these needs.
Viasat, Inc. keeps the world connected. As a global broadband services and technology company, Viasat ensures consumers, businesses, governments and military personnel have communications access - anywhere - whether on the ground or in-flight. The Company's innovations in designing highest-capacity satellites and secure ground infrastructure and terminal technologies coupled with its international network of managed Wi-Fi hotspots enable Viasat to deliver a best available network that extends the reach and accessibility of broadband internet service, globally.
About LightSquared's SkyTerra-1 satellite
The SkyTerra-1 satellite began commercial service in July 2011. The satellite is among the most powerful commercial satellites ever built and features a 22-meter L-band reflector-based antenna - the largest commercial antenna reflector to be put into service. It provides ubiquitous coverage over North America and will enable increased data speeds to products that are similar to today's typical mobile devices in terms of size, capabilities and build costs.
About Thuraya's Thuraya-2 and Thuraya-3 satellites
The Thuraya mobile communications system serves a region of 2.3 billion people. Boeing Satellite Systems (BSS) built the complete turnkey system under a contract signed on Sept. 11, 1997. This included the manufacture and October 2000 launch of Thuraya-1, a high-power Boeing GEM satellite, plus a second spacecraft, ground facilities and user handsets. The system began commercial operations in mid-2001. Sea Launch successfully orbited Thuraya-2 on June 10, 2003, and Thuraya-3 on January 15, 2008. The Thuraya coverage area encompasses the Middle East, North and Central Africa, Europe, Central Asia and the Indian subcontinent. Thuraya offers GSM-compatible mobile telephone services, transmitting and receiving calls through each satellite's 12.25-meter-aperture reflector. The satellites employ state-of-the-art on-board digital signal processing to create more than 200 spot beams that can be redirected on-orbit, allowing the Thuraya system to adapt to business demands in real time. Calls are routed directly from one handheld unit to another, or to a terrestrial network. The system has the capacity for 13,750 simultaneous voice circuits.
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