Intelsat Wins ProtoStar 1 Auction for $210 Milllion
November 2, 2009 | Staff Writer
Intelsat won the bidding for the ProtoStar 1 satellite, the operator announced Oct. 30.
Intelsat will pay $210 million in cash for ProtoStar 1 and will rename the satellite Intelsat 25. The spacecraft was placed on the auction block following Protostar’s bankruptcy filing in July.
“The additional inventory will support future revenue growth and provide resilience. Over the past several years we have enjoyed strong demand for our services in Africa, and this capacity will allow us to support the growth requirements of our customers, including wireless operators and broadband service providers. Because of our operating scale and collection of valuable orbital locations, we will be able to integrate and operate Intelsat 25 with minimal incremental cost, and rapidly build a backlog of revenue for the new satellite,” Intelsat Vice President and General Counsel Phillip Spector said in a statement.
Protostar will auction its other satellite, Protostar 2, in December.