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Avanti Communications Group PLC wins contract for satellite from European Space Agency


Monday, 16 Dec 2013 02:00am EST 

Avanti Communications Group PLC:Says it has signed a contract with European Space Agency (ESA) to take ownership of a satellite currently in orbit called ARTEMIS.Says Avanti succeeded in a competition against multiple bidders in which ESA's key decision factors included the promotion of innovation and competition in Europe.Says Avanti will pay nothing upfront and will assume modest operational costs which it expects will be offset by new revenues from the project.Says Avanti will take ownership of the ARTEMIS satellite on Jan. 1, 2014.