SatixFy Becomes Second ARIE Capital Group Portfolio Company To Go Public
Merger agreement with Endurance Acquisition Corp. results in SatixFy becoming a publicly listed company
This week, ARIE Capital Group, a leading integrated financial services group, is pleased to announce that SatixFy, a leader in next-generation satellite communication systems, will become the second of its investment portfolio companies to go public within the last 6 months.
Following the successful IPO of Cipia Vision Ltd. on to the Tel Aviv Stock exchange in October last year, ARIE Capital Group is delighted to share the news that SatixFY has reached a definitive merger agreement with Endurance Acquisition Corp. (“Endurance”) (NASDAQ: EDNC), a publicly traded special purpose acquisition company formed by an affiliate of Antarctica Capital, an international private equity firm with $2 billion of assets under management, that will result in SatixFy becoming a publicly listed company.
“This is a fantastic news for SatixFy, and we would like to congratulate the whole team for reaching this milestone”, said Stephen Margolis, founder of ARIE Capital Group and a director of SatixFy’s UK subsidiary. Since our original investment into SatixFy in February 2017, we have taken an active role and been very impressed with the management team and what they have achieved as a company. We truly believe this will be just another stepping stone as it starts its journey with Endurance Acquisition Corp. to achieving even greater success”.
SatixFy is a vertically integrated fabless semiconductor chip company providing products based on its own chipsets across the entire satellite communications value chain. The company designs its own chips, codes its own software, and builds its own modem and digital beamforming antenna products that they then sell to leading satellite industry players like TeleSat, OneWeb, ST iDirect, and Airbus.
“We are selling the picks and shovels for the 21st century’s gold rush in space”, said Yoel Gat, SatixFy Co-Founder and CEO. “The proceeds from this transaction will put us in position to quickly grow in what we see as a $20 billion 2029 market opportunity across several segments, including both ground terminals and payloads for Low Earth Orbit (“LEO”) broadband satellites, as well commercial and business aircraft. With the addition of the new available funds from this transaction, the company is targeting strong business expansion which will result in strong revenue growth, with profitability expected in 2023 and beyond.”