Com Dev International Ltd. and exactEarth Ltd.

COM DEV's exactEarth And Spain's HISDESAT Join Forces To Tackle The Space-Based AIS Market

    Cambridge, Canada (ots/PRNewswire) - COM DEV International Ltd. , a leading manufacturer of space  hardware subsystems, today announced that its data services subsidiary, exactEarth Ltd. ("the Company"), has added a strategic investor that will  play an important role in delivering and growing the Company's exactAIS(TM)  service in the marketplace. HISDESAT Servicios Estrategicos S.A., a major  Madrid-based satellite operator and service provider that sells data to more  than 25 government customers around the world, has taken a 27% equity  interest in exactEarth with a cash investment of CDN $15 million, which represents an implied $55.5 million valuation of the exactEarth business. The  cash investment will support exactEarth's on-going business operations and  the deployment of additional space and ground infrastructure.

    "We are excited to have access to HISDESAT's data services expertise and  global market reach," said Peter Mabson, President of exactEarth Ltd. "These  strengths are complementary with COM DEV's strengths in satellite technology  and are very well aligned with our needs at exactEarth as we roll out AIS  data services into the international marketplace. HISDESAT's investment  follows closely on the heels of our successful service launch last month and  confirms our commitment and ability to deliver a premium quality and highly reliable space-based AIS data service to the global market."

    In addition to its investment in exactEarth, HISDESAT will play a strategic role in supporting the Company's operations and service delivery.  HISDESAT will represent exactEarth as a reseller in a wide range of market  territories where they have an established market presence. In addition to  this, it is expected that HISDESAT will operate a second data center in  Europe on behalf of the exactEarth business, in a move that will further  improve the overall reliability of the exactEarth global AIS system.

    "We view our strategic investment in exactEarth as a long-term commitment  to support our business interests in global surveillance," said Roberto Lopez  Fernandez, Chief Executive Officer of HISDESAT. "We have spent considerable  time evaluating the exactEarth AIS technology and the Company's business  plan, and have concluded that both are well aligned with our objectives. It  was a logical next step to participate in this opportunity directly through an equity investment. We are pleased to be strategically aligned with COM DEV  in capitalizing on the Space-based Maritime Surveillance opportunity this  technology represents. There is a lot of potential for exactEarth, and we  believe in its future."

    "The HISDESAT partnership is an ideal one for exactEarth," said Michael  Pley, Interim CEO of COM DEV. "HISDESAT offers highly complementary expertise  and customer relationships at a crucial time for the Company, as it commences  commercial operations of its space-based AIS data services business. The  extended market access that HISDESAT brings to the Company is a significant  strategic benefit, and augments the sales and marketing reach that exactEarth has successfully achieved on its own. Attracting such a well known and  experienced satellite operations and space data service company as an  investor speaks volumes in support of the potential of exactEarth's business.  We welcome HISDESAT as a strategic partner and look forward to a very strong,  enduring, and successful partnership with them."

    The HISDESAT transaction, which closed today, implies a post-money  valuation of approximately $55.5 million for exactEarth. At the end of the  most recent fiscal quarter the Company was valued at approximately $16  million on COM DEV's consolidated balance sheet. COM DEV has committed to  funding $35 million of the Company's capital and operating expenses, of which  approximately $24 million has been provided to date. COM DEV retains  ownership of 73% of exactEarth. (All amounts are stated in Canadian dollars.)

    About exactEarth Ltd.  

    exactEarth Ltd. (http://www.exactEarth.com) is a data services company  that leverages advanced microsatellite technology and globally deployed  ground systems to deliver monitoring solutions characterized by high  performance, reliability, security, and simplicity. exactEarth's initial  service, exactAIS(TM), is a global vessel tracking and monitoring system  based on world leading space-based advanced AIS detection technology.

    About HISDESAT  

    HISDESAT Servicios Estrategicos, S.A. (www.hisdesat.es) is a supplier of  services based on space systems, to government clients in Spain and other  allied, and friendly countries. The company is specialized in the  acquisition, operation and commercialization of systems orientated to space,  with the purpose of providing strategic and communication services, for both  civil and military applications. HISDESAT was established as the first  commercial supplier in the world to provide satellite communication services  in X and Ka Band for government applications exclusively.

    About COM DEV  

    COM DEV International Ltd. (www.comdevintl.com) is a leading global  designer and manufacturer of space hardware subsystems. With facilities in  Canada, the United Kingdom and the United States, COM DEV manufactures  advanced products and subsystems that are sold to major satellite prime  contractors for use in communications, space science, remote sensing and  military satellites.

    This news release may contain certain forward-looking statements that  involve risks and uncertainties. Actual results may differ materially from  results indicated in any forward-looking statements. COM DEV cautions that,  among other things, in view of the rapid changes in communications markets  and technologies, and other risks including the cost and market acceptance of  COM DEV's new products, the level of individual customer procurements and  competitive product offerings and pricing, and general economic  circumstances, COM DEV's business prospects may be materially different from forward-looking statements made by COM DEV.

    The triangular logo and the word COM DEV are each registered trademarks  and the property of COM DEV Ltd. The exactEarth logos and the words  exactEarth and exactAIS are trademarks and the property of exactEarth Ltd.  All rights reserved.

    For further information: Gary Calhoun, Chief Financial Officer, Tel:  +1-519-622-2300 ext. 2826, gary.calhoun@comdev.ca; Jeff Codispodi, The  Equicom Group, Tel: +1-416-815-0700 ext. 261, jcodispodi@equicomgroup.com;  Peter Mabson, President, exactEarth Ltd., Tel: +1-519-622-2300 ext. 4800,  peter.mabson@exactEarth.com

ots Originaltext: Com Dev International Ltd. and exactEarth Ltd.
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
CONTACT:  For further information: Gary Calhoun, Chief Financial
Officer,Tel:  +1-519-622-2300 ext. 2826, gary.calhoun@comdev.ca; Jeff
Codispodi,The Equicom Group, Tel: +1-416-815-0700 ext.
261,jcodispodi@equicomgroup.com; Peter Mabson, President, exactEarth
Ltd., Tel:+1-519-622-2300 ext. 4800, peter.mabson@exactEarth.com



Das könnte Sie auch interessieren: