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[24.09.2006] ABS acquires of LMI from Lockheed Martin

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Asia Broadcast Satellite (ABS), a newly-formed satellite operator, has reported the acquisition of Lockheed Martin Space Communications Ventures (LMSCV) and Lockheed Martin Intersputnik (LMI) from Lockheed Martin Global Telecommunications (LMGT).

LMSCV owns and operates the LMI-1 satellite positioned at 75 degrees east and LMI has the exclusive right to market the capacity on it. The LMI-1 satellite, a high-powered Lockheed Martin A2100AX spacecraft, covers four continents and over four billion people from Europe, Asia, the Middle East, Africa and Australia. As a result of the transaction, LMSCV and LMI have been renamed Asia Broadcast Satellite Holdings and Asia Broadcast Satellite, respectively.

The LMI-1 satellite has also been renamed ABS-1.

Headquartered in Hong Kong and backed by the majority shareholder Citigroup Venture Capital International (CVCI) with financing from Asia Debt Management (ADM), ABS serves a global customer base with its representative offices in Asia, the Middle East, Europe and North America.

Source: http://www.digitalmediaasia.com

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