Madrid, 21 Mar Hispasat, the Spanish satellite services operator of Grupo Red Eléctrica, has acquired one hundred percent of Axess Networks, a satellite telecommunications company with a strong presence in Latin America, for about 87 million euros (96 million dollars), plus financial debt. As reported on Monday by Red Eléctrica to the National Securities Market Commission, the stock market regulator in Spain, both companies have signed an agreement worth around 112 million euros (123.5 million dollars), divided into 87 million (96 million dollars) of capital value, plus 24.9 million (27.5 million dollars) of capital value, plus 24.9 million (27.5 million dollars). dollars) of debt. Red Eléctrica pointed out that this acquisition, which is subject to the relevant authorizations, is part of the strategic plan of the group's satellite business, aimed at turning Hispasat “into a provider of satellite solutions and services in its target markets.” The company assured that the operation will entail a greater involvement of Hispasat in the value chain of managed services, bringing closer proximity to the customer, adaptability and rapid evolution of its solutions. Specifically, it will allow Hispasat to optimize its offering in segments such as the extension of cellular satellite networks, connectivity networks for corporate customers or digitization in remote areas, he said. He also highlighted that it will promote the development of solutions for emerging markets, such as the Internet of Things (IoT) or 5G via satellite, with particularly important benefits in Latin America. Axess Networks is a telecommunications company specializing in satellite services to the corporate market and administrations, with a presence in Latin America (Colombia, Mexico, Peru, Ecuador and Chile), as well as Europe, the Middle East and Africa, mainly in the latter two areas. The company, which has an infrastructure composed of main teleports in Germany, Mexico and Colombia, has a broad customer base in industrial and corporate sectors and more than 200 employees, operating around 8,000 sites in more than 50 countries on four continents. CHIEF mnc/jj/lar/psh 1012027
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