Finance

UNIO Enterprise is an exciting new player in the European satellite sector as it looks to make a splash in the mobility sector, particularly in the automotive arena. A joint venture led by Isar Aerospace, Mynaric, Reflex Aerospace, and SES, the company plans to build a Low-Earth Orbit (LEO) satellite network for mobility and has...

A judge has sided with SES in an ongoing dispute over $421 million of Intelsat’s C-band proceeds, ruling that the previous bankruptcy court erred in siding with Intelsat. The June 22 opinion was released just after Intelsat pulled out of potential merger talks with SES.  Senior U.S. District Judge Robert Payne’s opinion says the bankruptcy...

Revenue from satellite broadband services grew 18% in 2022, according to the Satellite Industry Association’s (SIA) 2022 “State of the Satellite Industry Report” by BryceTech. The annual report examines the global space economy including satellite services, launch, manufacturing, ground equipment, and government space budgets.  Satellite broadband revenue was a standout area of growth, while the...

AsiaSat has made a significant acquisition in the media arena. It has fully acquired Lightning International Limited, a content distribution and media solutions company based in the U.K. and Hong Kong. The addition of Lightning into the AsiaSat family is a strategic move and aims to expand the company’s services and extend its clients’ reach...

Intelsat has ended talks of a potential merger with fellow satellite operator SES, a source close to the discussions told Via Satellite. SES confirmed in a press release Thursday morning that talks are over.  Bloomberg first reported the news on Wednesday afternoon.   Talk of a potential merger between the two satellite giants has long been...

SES’s announcement on Monday that Steve Collar is leaving his role as CEO means there will be huge change at one of the world’s biggest satellite operators. The timing of the announcement was interesting, given that SES has been in the middle of an aggressive launch campaign for its mPOWER satellites. It is not exactly...

Forsway has appointed Bengt Jonsson as its new chairman, the company announced June 14. A long-time investor with strong roots in Forsway, Jonsson previously served as managing director of the company. Jonsson takes over from Mats Andersson, who served as chairman for nine years. The company, which has been going almost 20 years, aims to...

Tomorrow.io announced an $87 million Series E funding round, along with the successful launch of its second satellite on this week’s SpaceX rideshare mission. Activate Capital led the round for the weather intelligence startup, and new investors include RTX Ventures, Seraphim, and Chemonics.  Existing investors SquarePeg Capital, Canaan, ClearVision, JetBlue Ventures, and Pitango participated as...

Terran Orbital has hired Tony Gingiss as the company’s new COO, snagging the executive after Virgin Orbit’s bankruptcy.  Gingiss has a long career in the space industry including more than two decades with Boeing Satellites Systems and Airbus OneWeb Satellites, which he led as CEO. Gingiss was COO of Virgin Orbit and had been with...

Viasat’s former CEO Rick Baldridge is retiring from his role as vice chairman with the completion of the Inmarsat acquisition, and will remain on the company’s board of directors.  Baldridge is a longtime executive at Viasat and served as CEO for about a year and half while founder Mark Dankberg stepped away from the role....