Hanwha Systems to invest $30 mn in US communications firm Kymeta

Hanwha Systems to invest mn in US communications firm Kymeta
Kyung-Min Kang 1
2020-12-24 15:00:27 Kkm1026@hankyung.com
Satellite communications

Hanwha Systems Co., the defense industry arm of Hanwha Group, has decided to invest 33.2 billion won ($30 million) in Kymeta Corp., a US satellite communications firm, to delve into the global market for communications on the move.

Hanwha said in a regulatory filing on Dec. 24 that it will buy 43 million shares,  amounting to 9.11% of Kymeta, under a strategic partnership. The deal is subject to approval by the US government.

Kymeta, the Redmond, Washington-based connectivity venture firm, makes the next generation of satellite-cellular mobile service systems for voice and data available to military and commercial markets.

Hanwha Systems to invest mn in US communications firm Kymeta

Established in 2012, the company provides solutions for broadband satellite connectivity and cellular networks to meet the needs of global defense agencies, governments, first responders and commercial customers.

Under the deal, Hanwha said it will be able to secure the exclusive right to sell Kymeta’s satellite antennas in Korea from 2021. Both companies also plan to jointly develop next-generation electric satellite antennas, according to Hanwha.

“With the investment, Hanwha aims to emerge as a global leader in the low-orbit satellite antenna market,” said Chief Executive Kim Youn-chul.

Write to Kyung-Min Kang at Kkm1026@hankyung.com
In-Soo Nam edited this article.
#HanwhaSystems #Kymeta #satelliteantenna

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