Space Network signs $50M satellite communications deal with HQ Company

Satellite communications infrastructure company Space Network said on Sept. 29 it signed a $50 million pre-purchase agreement for satellite network services with Philippine company HQ Company International Holdings. Including a $100 million deal signed in May with Vietnamese technology company DETI, cumulative pre-orders have risen to $150 million. Under the new agreement, HQ Company will operate Space Network’s Freeport satellite communications network service in the Philippines. Space Network will provide related hardware, software and technical support, while HQ Company will handle local sales, customer acquisition and business operations. Space Network currently has four low-Earth-orbit satellites in launch and operation, and plans to launch about 230 more to commercialize the Freeport satellite network service by 2029.