The acquisition includes Helios Australian subsidiaries Sirion Holdings Pty Ltd. and Sirion Global Pty Ltd.
EchoStar Corporation (EchoStar) has announced that its subsidiary, EchoStar Global L.L.C. has acquired Helios Wire Corporation (Helios), a satellite-enabled IoT connectivity company headquartered in Vancouver, Canada. The acquisition includes Helios Australian subsidiaries Sirion Holdings Pty Ltd. and Sirion Global Pty Ltd. (Sirion Global).
Sirion Global holds global spectrum rights for S-band Mobile Satellite Service (MSS), administered by Australia, and has been working to develop solutions for high volume asset tracking and monitoring applications by satellite.
This acquisition advances our strategy and further lays the foundation for a global S-band solution for the future, commented Anders Johnson, Chief Strategy Officer, EchoStar. Our aim is to develop S-band technologies that will dramatically reduce the cost of satellite IoT, including machine-to-machine (M2M) communications, public protection and disaster relief (PPDR) and other end-to-end services worldwide.
Johnson continued: Over time, EchoStar products and services will be integrated into the new global, hybrid networks that leverage multiple satellites and terrestrial technologies. This acquisition of Helios and Sirion Global positions us closer to realizing that vision.
Helios shareholders are pleased to have concluded the sale of Helios and the Sirion subsidiaries to EchoStar, added Raghu Das, co-founder and Chief Operating Officer, Helios. EchoStar has a wealth of S-band experience in the United States and Europe and is the perfect operator to take this project forward and accelerate the build-out of the Sirion constellation and deployment of global IoT services.
We are confident that the transaction will provide economic and communications benefits to Australia, Sirions home jurisdiction, and around the world, said Peter Ruderman, co-founder of Helios. We thank the Australia Communications and Media Authority and other Australian authorities for the support they have given Sirion over many years.
The acquisition occurred by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia).
