Two major satellite operators, Intelsat and SES, have independently invested in the direct-to-device venture, Lynk Global. This occurred without prior knowledge of each other's decisions. Intelsat CEO David Wajsgras stated on March 10th, shortly after SES announced its partnership, "This really is coincidental. We were completely independent of SES, and we had our own analysis and our own logic."
Neither company has publicly disclosed the investment amount in Lynk Global's ongoing Series B round, which has already secured over $85 million of a $215 million target. Intelsat initiated discussions with Lynk Global at least two years ago, while SES's investment followed approximately one year of talks. Both companies recognize the potential of Lynk Global's technology to serve government and mobility clients globally. They aim to collaborate on developing new small satellites, potentially expanding services beyond text messaging and SOS alerts to include voice and data capabilities.
The agreements include Intelsat taking a minority equity stake in Lynk Global, with its chief technology officer, Bruno Fromont, joining the board. Lynk Global, under the leadership of CEO Ramu Potarazu (a former Intelsat executive), is planning to merge with a public shell company to fuel its constellation expansion. Currently, Lynk Global has five deployed satellites, partnering with telecommunication companies. They have ambitious plans to deploy 5,000 satellites to enhance global coverage and reduce latency. SES intends to utilize its medium Earth orbit fleet to relay signals from Lynk Global's satellites, enhancing service quality.
Despite these independent investments, the $3.1 billion merger between Intelsat and SES remains on schedule to finalize in the second half of the year, subject to regulatory approvals.