Today morning, Tata Communications announced that it has signed an agreement with Kacific Broadband Satellites Group.
As per the deal, the company will provide terrestrial connectivity services as it readies for the launch of its first satellite, Kacific1. Tata Communications will provide global internet and state-of-the-art cyber security services for Kacific’s Ka-band satellite network.
No financial aspects of the deal are known.
Kacific1 is a High Throughput Satellite (HTS) that will use 56 high-power Ka-band beams to deliver affordable, high-speed broadband to telecommunications companies, internet service providers and governments in South East Asia and the Pacific.
In another news, which was also good, Tata Communications stated that effective 26th Nov, they have appointed Amur Swaminathan Lakshminarayanan as its managing director and CEO. The appointment comes following resignation of Vinod Kumar from the post in July.
Lakshminarayanan was earlier President and CEO of Tata Consultancy Services Japan.
The market is happy with both these news and the stock price reacted accordingly, going on to hit a new high at Rs.465, a surge of over 11%.