Yahsat, a leading global satellite operator based in the United Arab Emirates (UAE) and wholly owned by Mubadala Investment Company, completed the acquisition of a majority and controlling stake in the mobile satellite services operator Thuraya.
Thuraya, which was the first satellite operator from the UAE, operates two satellites serving over 160 countries. Yahsat has three satellites of its own.
The combination of geostationary satellites operating in the C, Ka, Ku and L-bands will jointly cover Europe, Africa, the Middle East, South America, and Asia, providing a broad range of Fixed and Mobile Satellite Services spanning voice and data communications to both commercial and government sectors.
Ali Al Hashemi, who has led Yahsat Government Solutions, Yahsat’s specialised unit fulfilling defense and governmental client requirements, for the past few years is announced as the new CEO of Thuraya, while former CEO Ahmed Al Shamsi will remain as Advisor to the CEO. Ali Al Hashemi, will at the same time continue to be General Manager of Yahsat Government Solutions.
Commenting on the Thuraya acquisition, Masood M. Sharif Mahmood, CEO of Yahsat stated: “The Thuraya acquisition provides us with an ideal opportunity to grow and diversify our business, bolstering our satellite solutions capabilities on both government and commercial fronts.
