Permira scoops Asia Broadcast Satellite
September 13, 2010
A company backed by the Permira funds, along with the Asia Broadcast Satellite (ABS) management team, has reached an agreement to acquire Kingsbridge Limited, the holding company for ABS, one of the fastest growing premium satellite operators in the world. The Permira funds will become the majority shareholder of ABS.
Founded in 2006 by CEO Thomas Choi, ABS supplies bandwidth connectivity to broadcasting and telecom customers, serving over 80 customers in around 30 countries. ABS currently operates three satellites in orbit under the ABS brand, one under co-brand with a third party and two additional satellites in the pipeline including ABS-2, scheduled to be launched in early 2013. ABS’s prime orbital locations cover 80 per cent of the world’s population, targeting high growth markets in Asia, Russia, Africa and the Middle East.
Richard Sanders, head of TMT at Permira, said that ABS was one of the world’s fastest growing satellite operators, with prime orbital locations serving markets with strong fundamentals.