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Loral To Combine Its Cyberstar And Skynet Units
New York - July 1, 2002 Loral Space & Communications announced Thursday that, effective immediately, it is integrating the operations of two subsidiaries, Loral CyberStar and Loral Skynet. The combined units will report to Loral Skynet president, Terry Hart. The leading provider of global data, voice, video and Internet backbone services, CyberStar delivers the most effective private voice and data networks and Internet Service Provider services, via its hybrid space/terrestrial network, to more than 300 enterprises and service providers worldwide. Based in Rockville, MD, and with offices in North America, Europe and Asia, CyberStar generated 2001 data services revenues of $98 million. Skynet is one of the world's largest and fastest-growing operators of telecommunications satellites, providing high-volume communications and data transmission services to broadcasting, cable TV, Internet and industrial companies around the world. Its fleet of seven satellites covers the globe, and three more are in late stages of construction. Skynet is based in Bedminster, NJ, and had 2001 revenues of $389 million. Bernard L. Schwartz, chairman and chief executive officer of Loral, said, "Through both Skynet and CyberStar, Loral has pursued a strategy to broaden our capabilities in order to differentiate ourselves from the competition, add value for our customers, increase margins and better deliver new applications. "Joining these two successful organizations is consistent with that strategy -- it is the most effective way to make the broadest range of networking services available to all Loral customers. "We expect Loral to benefit from multiple new revenue opportunities created by the integration, from the provision of new services and from the addition of customers." Skynet recently expanded its product offerings by establishing two additional product lines: Network Services, which provides satellite access services and shared transmission platforms, and Professional Services, which manages satellites for other operators and develops customized transmission platforms for enterprise and service provider clients CyberStar's space and terrestrial networking expertise is effective and well established in the marketplace, making it an excellent fit. Terry J. Hart, president of Loral Skynet, said, "In our view, providing a platform for broadband applications is a high-growth opportunity. "This integration allows Loral to combine Skynet's advanced technologies, like spot beams, with CyberStar's expertise and assets, to dramatically reduce the per-user cost of the space segment required for new broadband applications. It's a real win-win situation for Loral and for its customers." Community Email This Article Comment On This Article Related Links Loral Space & Communications SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Stratos Steps Closer To Xantic Acquisition
Bethesda MD (SPX) Jan 5, 2006Stratos Global recently announced it had taken a step closer toward the completion of the acquisition of Xantic, having received positive advice from the Works' Council in the Netherlands, and executed a definitive agreement to purchase Xantic from KPN and Telstra Corporation. |
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