{"id":25978,"date":"2012-11-07T09:37:56","date_gmt":"2012-11-07T07:37:56","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=25978"},"modified":"2012-11-07T15:22:50","modified_gmt":"2012-11-07T13:22:50","slug":"convergence-partners-exits-new-dawn-venture","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/25978\/convergence-partners-exits-new-dawn-venture\/","title":{"rendered":"Convergence Partners exits New Dawn venture"},"content":{"rendered":"

A consortium of South African investors led by Convergence\u00a0Partners<\/a>, and comprising Altirah Telecoms<\/a> and the Convergence Partners Foundation, has disposed of its 25.1% interest in the New Dawn joint venture to Intelsat S.A<\/a>, its joint venture\u00a0partner and the majority shareholder of New Dawn.<\/p>\n

The New Dawn joint venture was established to acquire, own and operate the Intelsat New Dawn\u00a0satellite, stationed at the 33\u00b0 East orbital slot, which provides services in sub-Saharan Africa.<\/p>\n

Following the sale, Intelsat has become the sole owner and operator of the satellite.<\/p>\n

Andile Ngcaba<\/a>, chairman of Convergence Partners, said: \u201cThe New Dawn partnership\u00a0was created to enable the parties to achieve specific objectives. The technical anomaly,\u00a0which resulted in the non-deployment of one of the satellite\u2019s reflectors, precluded us\u00a0from fully realising our broader objectives.<\/p>\n

“The venture was a landmark deal for Africa\u00a0and fundamentally changed the way Africans participate in this critical sector and, as\u00a0such, remains something we are very proud of.\u201d<\/p>\n

The New Dawn satellite venture was initiated by Convergence Partners, Altirah Telecoms and\u00a0Intelsat in 2008 with the aim of supplying critical communications infrastructure for African\u00a0customers to support the continued development and growth of the region.<\/p>\n

The build of the\u00a0satellite was completed in 2010 and the launch took place in 2011.<\/p>\n

Commercial services on the\u00a0operational Ku-Band payload commenced in June 2012 and the satellite also hosts the MCPC\u00a0platform for the growing digital television market in the region.<\/p>\n

\u201cConvergence Partners maintains its long-term commitment to the African space
\ncommunications sector and is creating further ventures in this regard, in order to assist
\nin ensuring strong representation of Africans in all aspects of the industry,\u201d Ngcaba said.<\/p>\n

Related article<\/strong><\/p>\n

Convergence Partners launches $500m ICT fund<\/strong><\/a><\/p>\n

IntelSat debuts satellite media platform in SA<\/strong><\/a><\/p>\n

Intelsat New Dawn satellite launched<\/a><\/strong><\/p>\n

New Dawn satellite launch delayed<\/a><\/strong><\/p>\n

Intelsat New Dawn satellite to be launched in March<\/a><\/strong><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

A consortium of South African investors led by Convergence Partners, has disposed of its 25.1% interest in the New Dawn joint venture to Intelsat S.A.<\/p>\n","protected":false},"author":10,"featured_media":2355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[4552,2269,1621,26,4553,1803],"class_list":["post-25978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-altirah-telecoms","tag-andile-ngcaba","tag-convergence-partners","tag-headline","tag-intelsat-s-a","tag-new-dawn"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/25978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=25978"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/25978\/revisions"}],"predecessor-version":[{"id":25982,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/25978\/revisions\/25982"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/2355"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=25978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=25978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=25978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}