SatixFy names CEO to direct its public business transformation – SpaceNews
TAMPA, Fla. — SatixFy named David Ripstein as CEO June 23 to lead the satcoms equipment maker’s prepared transformation into a public firm.
Ripstein is presently CEO of British automotive-focused telematics service provider GreenRoad Systems, and will suppose his new purpose at Israel-primarily based SatixFy June 27.
He will choose over responsibilities from SatixFy chair and chief monetary officer Yoav Leibovitch, who held them on a short-term basis after co-founder and former CEO Yoel Gat died April 8 from most cancers.
Leibovitch, who also co-launched the company in 2012, stays chair and CFO.
SatixFy claimed plans announced in March to trade shares on Nasdaq by merging with Endurance Acquisition Corp, a exclusive intent acquisition company (SPAC), continue to be on monitor to comprehensive in the 2nd 50 percent of 2022.
The deal values the merged company at $813 million, and could most likely raise up to $230 million for SatixFy’s enlargement strategies.
Ahead of becoming a member of GreenRoad in 2017, Ripstein was president and CEO of publicly traded Radcom, which gives network intelligence options for telecoms operators transitioning to 5G.
Ripstein stated SatixFy designs to use the dollars injection from heading public to “launch an aggressive revenue system, and expect to see this method guide to powerful earnings development and profitability above time.”
SatixFy sees expanding need from broadband satellites in lower Earth orbit and other altitudes for its antennas, terminals and modems — which are based on semiconductors it develops in-home.
The organization has forecasted revenues to expand from $22 million in 2021 to $374 million in 2026.
Immediately after primarily breaking even in 2022, SatixFy expects to create $23 million in EBITDA — or earnings just before fascination, taxes, depreciation, and amortization — in 2023, rising to $113 million in 2026.
TAMPA, Fla. — SatixFy named David Ripstein as CEO June 23 to lead the satcoms equipment maker’s prepared transformation into a public firm.
Ripstein is presently CEO of British automotive-focused telematics service provider GreenRoad Systems, and will suppose his new purpose at Israel-primarily based SatixFy June 27.
He will choose over responsibilities from SatixFy chair and chief monetary officer Yoav Leibovitch, who held them on a short-term basis after co-founder and former CEO Yoel Gat died April 8 from most cancers.
Leibovitch, who also co-launched the company in 2012, stays chair and CFO.
SatixFy claimed plans announced in March to trade shares on Nasdaq by merging with Endurance Acquisition Corp, a exclusive intent acquisition company (SPAC), continue to be on monitor to comprehensive in the 2nd 50 percent of 2022.
The deal values the merged company at $813 million, and could most likely raise up to $230 million for SatixFy’s enlargement strategies.
Ahead of becoming a member of GreenRoad in 2017, Ripstein was president and CEO of publicly traded Radcom, which gives network intelligence options for telecoms operators transitioning to 5G.
Ripstein stated SatixFy designs to use the dollars injection from heading public to “launch an aggressive revenue system, and expect to see this method guide to powerful earnings development and profitability above time.”
SatixFy sees expanding need from broadband satellites in lower Earth orbit and other altitudes for its antennas, terminals and modems — which are based on semiconductors it develops in-home.
The organization has forecasted revenues to expand from $22 million in 2021 to $374 million in 2026.
Immediately after primarily breaking even in 2022, SatixFy expects to create $23 million in EBITDA — or earnings just before fascination, taxes, depreciation, and amortization — in 2023, rising to $113 million in 2026.