ST Electronics, SatixFy UK set up in-flight connectivity JV

Singapore Electronics (ST Electronics) has signed an agreement with SatixFy UK through its subsidiary ST Electronics (Satcom & Sensor Systems) to jointly invest in a joint venture company (JVCo). ST Electronics' planned investment of USD 20 million (approximately USD 26 million) is for a 49 percent stake in the JVCo, with the remaining 51 percent to be held by SatixFy UK. 

The JVCo, which will be set up in the UK, is part of ST Electronics’ strategy to enhance its global access to the emerging commercial aviation connectivity market. It will develop a satellite antenna system to provide enhanced in-flight connectivity (IFC) for commercial aviation.

SatixFy UK is a provider of baseband modem and electronically steerable antenna chips, products and services. The setup of this JV company is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.