The purchase constitutes an expansion of satcom activity in the local market based on Gaia Com's existing customers, including the cooperation with the Orange network in Israel and other customers in the security fields in Israel and around the world
Satcom Systems, the communications arm of Worldgroup Holdings controlled by Zvika Barinbaum, today acquired Gaia Com, a private company operating since 2000 in the field of mobile satellite communications, which has a distribution agreement with the global company Iridium and has a license from the Ministry of Communications to operate satellite communications services in Israel.
Ami Schneider, CEO of Gaiacom will continue to serve as CEO of Gaiacom and will also move to serve as business development manager of Satcom.
Moshe Avraham, Chairman of Satcom Systems: "The purchase of Gaia Com is the first purchase we are making after the transfer of control to the Worldgroup group and is a strategic move for us. The purchase will expand the portfolio of products currently offered to our customers in the fields of satellite communications. Gaia Com's main business in mobile satellite communication products is complementary and synergistic to Satcom's product basket, and merging the companies' marketing systems will enable cost savings and increase the profitability of both companies."
"In July 2004, Satcom completed a private issue of shares in the amount of approximately NIS 15 million to a group of investors that included the Lapidot Group, Mitvachim, the Dash and Discount provident funds. At the end of August, the company submitted to the Securities Authority a prospectus for a public issue of bonds. The company is examining additional options for strategic acquisitions and mergers with the aim of accelerating the company's growth rate, while expanding the geographic distribution and penetration into complementary areas of activity, with the aim of turning Satcom into a global communications service provider that will provide complete communications solutions to its customers in a variety of technologies."
Ami Schneider, adds: "In my opinion, the acquisition constitutes an expansion of satcom activity in the local market based on Gaia Com's existing customers, including the cooperation with the Orange network in Israel and other customers in the security fields in Israel and around the world. In addition, the acquisition will enable the provision of a complementary solution to satcom customers abroad."
Partner Communications Ltd. is the first company in the world to offer roaming services with the Iridium satellite operator. The launch of these roaming services will allow orange™ subscribers to make incoming and outgoing calls and receive and send SMS messages using their personal number at any point on Earth: in oceans, poles, deserts and mountain tops. In Israel, orange™ subscribers enjoy this service exclusively.
About: Iridium Satellite LLC
Iridium is the world's leading satellite communications provider. Iridium's communication system currently provides global and mobile voice and data solutions based on a unique satellite communication network that covers the entire globe (including oceans, airways and polar regions).
66 satellites moving around the Earth in a low orbit (LEO technology), at an altitude of 780 km above the Earth's surface, were launched into space during 1997 and 1998. Among the leading customers of the company are leading shipping companies, the US Army which purchased 25,000 devices , companies and individuals operating in areas where the use of cellular or wired technology is not available.
In Israel, Iridium is represented by Gaia Com, which began in September 2001 to market Iridium products and provide telephony network services and value-added services in the fields of satellite communications.
