Addvalue Innovation, a subsidiary of Addvalue Technologies, has signed a memorandum of understanding (MOU) with US firm Micro-Ant to jointly develop and promote satellite terminals for end-user applications globally.
Based in Florida, Micro-Ant develops and manufactures custom antennas for systems integrators to use in military and aerospace applications.
In a joint press release, Addvalue and Micro-Ant state that they see “tremendous opportunities” within the satellite communications market, with investments being poured into new infrastructure. Citing a report published by Allied Market Research, the companies note that the global satellite communication market is expected to hit US$99.58 billion ($133.6 billion) by 2027, registering a CAGR of 9.2% from 2020 to 2027.
“We are delighted to work with Addvalue to create new products for sale in markets throughout the world. MicroAnt’s expertise in antenna and RF development will complement well with the Addvalue’s extensive experience in user terminal development and integrated applications. Together both companies can quickly respond to the increasingly demands for new and innovative terminals,” says Jim Francis, CEO of Micro-Ant.
See also: Addvalue secures new orders for IDRS terminals worth over US$1 mil
Khai Pang Tan, CTO of Addvalue, says that having a competent antenna and RF partner is key to address market needs as Addvalue expands its business. “Geographically, Micro-Ant’s facilities are US based and Addvalue is Singapore-based, right in the heart of the bristling Asia market, this strategic partnership in particular means both companies can be more responsive to capturing opportunities in these markets,” he adds.
Shares in Addvalue closed flat at 2 cents on June 28.
