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Avanti Communications shares lifted by satellite bandwidth contract win

Avanti Communications shares lifted by satellite bandwidth contract win

Satellite operator Avanti Communications Group (LON:AVN) said it won a second contract from Bentley Walker, for a term of 3 years with a minimum value of US$1.1 million. It will be supplying bandwidth for Bentley Walker customers in Iraq.

Shares rose in early deals.  Just after the opening, Avanti was trading 2.8 percent higher at 292.25 pence.

Bentley Walker is Europe's largest re-seller of satellite internet equipment, and has been supplying satellite internet services since 1999.

Avanti said the capacity it is selling will be on HYLAS 2, its second satellite which is scheduled to launch in the second quarter of 2012.

Chief executive David Williams said: "I am pleased Bentley Walker has returned to Avanti to buy bandwidth over Iraq following its recent purchase of capacity over Afghanistan. Bentley Walker is expanding its geographic coverage and we value its expertise in the region."

Avanti sells satellite data communications services to telecoms companies which use them to supply residential, enterprise and institutional users.

Its first satellite called HYLAS 1 launched on November 2010 and is the first superfast broadband satellite launched in Europe. HYLAS 2 will extend Avanti's coverage to Africa and the Middle East.

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Avanti Communications Timeline

September 16 2016

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