Addvalue to develop broadband products with Beijing-based satellite partner
ADDVALUE Technologies has entered into a collaboration agreement with a Beijing-based partner to develop, market and distribute satellite broadband products for fishing vessels in China and South-east Asia.
Addvalue, a provider of mobile satellite communications solutions, will team up with Beijing-based Huaan Xingke Information Technology to integrate the China Beidou navigation and satellite communications technology for a number of vertical markets. Huaan Xingke is the only entity authorised by the Chinese government to operate Beidou services outside China, Addvalue said.
Addvalue expects the collaboration to deliver products over three years beginning from the second half of 2018 with a combined revenue of more than US$12 million. An initial order of about US$1 million is expected to be fulfilled within 2018.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
Sheng Siong Q1 net profit up 9.3% on higher revenue
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels
S&P Global first-quarter profit beats estimates on strong product demand
Malaysia mulls over plans for casino in Forest City as part of Johor-S’pore Special Economic Zone: sources