EchoStar Corp. is a US-based company providing Internet services & satellite communication services through its space networking system. The company has decided to handover its fading business of broadcast satellite services to Dish Networks for $800 million.
In the $800 Million deal, EchoStar Corp. not only offers nine satellites, but also provides a team that handles satellites’ operations, associated properties, and certification for an orbital slot.
According to EchoStar, almost 90% of revenue generated by the company’s broadcast satellite services had come from Dish contracts in the last year. Nearly 10% of revenue came from its Satellite Services division and had little possibility of revenue expansion.
CEO and President of EchoStar, Mike Dugan, stated that handing over its low-revenue generating business to Dish would let the company to focus consistently on its escalating business divisions.
The divestment comes along with a share exchange deal signed between EchoStar and Dish over two years back, where EchoStar purchased all Hughes Retail Preferred Tracking Stock of Dish in exchange for its EchoStar Technologies business.
EchoStar has teamed up with Maxar Technologies for the satellite construction business. Both the companies are designing a satellite, known as Jupiter 3, which would be capable of providing Internet connectivity at extremely high speeds, 500 gigabits per second.
On a similar note, recently, Amazon was almost set to introduce its own online secondary e-commerce branch. However, the non-profit global databases managing organization granted the specific domain to the organization.
After so many years, the battle between Amazon and South American countries’ alliance over the right to web addresses has ended. The ICANN (Internet Corporation for Assigned Names and Numbers) finally agreed to assign the domain ending with “.amazon”.
Amazon applied for specific URL ending with “.amazon” as well as another two internationalized versions in 2012. But a union of a few South American countries opposed the plan conducted by the U.S. company.