UAE’s Yahsat eyes future acquisitions to boost growth

Abu Dhabi – Mubasher: Andrew Cole, CFO of YahsatThe company is looking to grow organically through acquisitions over the next few years.

Andrew Cole, in an interview with Bloomberg, added that Yahsat will “press hard” to grow its business revenue streams over the next few years.

He added that the company is focusing on expanding satellite communications in specialized places, such as fishing vessels in Vietnam, and is seeking to expand in other regions in the region, such as the Philippines..

Cole noted that Yahsat has accumulated $2 billion in contracts, as well as $631 million in liquidity and short-term deposits, and the company’s total liquidity has increased by $174 million this year.

In October, Yahsat acquired a minority stake in ESAT GlobalProvider of IoT connectivity solutions to meet the “increasing demand for connectivity using low-cost, low-power IoT devices“.

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The President of the Emirates meets the Crown Prince of Bahrain on the sidelines “COP27” in Sharm El-Sheikh