Yahsat, a global satellite operator based in the UAE and wholly owned by Mubadala Investment Company, has completed the acquisition of a majority and controlling stake in Thuraya.
Ali Al Hashemi, who has led Yahsat government solutions, Yahsat's specialized unit fulfilling defense and government client requirements, has been announced as the new CEO of Thuraya, while former CEO Ahmed Al Shamsi will remain as advisor to the CEO. Al Hashemi will continue to be the general manager of Yahsat government solutions.
Yahsat has also named Marcus Vilaa as Thuraya's Chief Technical Officer. Marcus will continue his role in Yahsat as the CTO in addition to his newly announced role in Thuraya. Marcus brings more than 35 years of experience in the satellite industry.
Shawkat Ahmed is appointed as Thuraya's Chief Commercial Officer, succeeding Rashid Baba. Ahmed possesses more than 22 years of experience in satellite communications attained through occupying senior commercial leadership roles in Yahsat, Thuraya and Telstra V-Comm.
The acquisition of the UAE's first home grown satellite operator, Thuraya, is set to expand Yahsat's current satellite solutions portfolio on commercial and government fronts as well as create a strong platform to capture the growing opportunity around IoT and M2M applications across both sectors.
Executive Comment
Masood M. Sharif Mahmood, CEO of Yahsat, said that the Thuraya acquisition provides the company with an ideal opportunity to grow and diversify the firm's business, bolstering Yahsat's satellite solutions capabilities on both government and commercial fronts. By integrating the portfolios of the two companies, the companies, together, will be able to offer a comprehensive mobile and fixed satellite services portfolio.
