Mage Networks Signs Memorandum Of Understanding For Telesat Lightspeed Services
Portfolio Pulse from Benzinga Newsdesk
Telesat (TSX:TSAT) and Mage Networks have signed an MOU for Telesat Lightspeed LEO satellite services. They will collaborate to integrate Telesat Lightspeed into Mage's service portfolio, aiming to expand broadband internet to remote Canadian communities. The Telesat Lightspeed Capacity Pool, supported by the Canadian government, offers reduced rates to service providers for community connectivity. Telesat Lightspeed will provide high-speed, low-latency broadband globally, with deployment expected in 2027.
January 17, 2024 | 1:35 pm
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Telesat's MOU with Mage Networks to provide LEO satellite services for remote broadband may boost investor confidence in its growth prospects and commitment to expanding internet access.
The MOU with Mage Networks is a positive development for Telesat, indicating progress in its business strategy and potential for future revenue growth. The focus on expanding internet access in remote areas aligns with global connectivity goals and may attract positive attention from investors and the public. However, as the actual deployment is set for 2027, the immediate financial impact may be limited.
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