Sky and Space Global sign MoU to explore Commsat’s IoTs

Company News

by Rachael Jones

Sky and Space Global (ASX:SAS) has signed a memorandum of understanding with Beijing Commsat Technology Development to test and explore how the SAS network can be incorporated into the Commsat Internet of Things offering.

Commsat is a Beijing based satellite communications company that is developing a Low Earth Orbit constellation to provide IoT services to users and corporations mainly in China.

Under the terms SAS and Commsat will work collaboratively to test how SAS’ advanced nano-satellite technology can be incorporated to significantly advance the current Commsat network offering.

The Chinese Internet of Things market reached over $143 billion US dollars in 2016 and is expected to exceed US$231.4 billion by the year 2020.

Shares in Sky and Space Global (ASX:SAS) are up 2.38 per cent to 9c. 
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.