JULY 29, 2023
AERKOMM Inc. and EJECTT Inc. Sign LOI, Advancing Potential Merger
AERKOMM Inc. and EJECTT Inc. have reached a significant milestone with the signing of the Letter of Intent (LOI) on July 28th, following AERKOMM Inc.'s Board of Directors' resolution on July 10th to explore a potential merger between AERKOMM Taiwan Inc. and EJECTT Inc. (3089.TWO).
The LOI signing marks a decisive step towards consolidation and growth in Taiwan's satellite communication industry. AERKOMM and EJECTT are committed to synergizing their strengths and expertise to maximize the impact in the market and strengthen the position in the satellite communications sector.
Furthermore, the Ministry of Digital Affairs (MoDA) in Taiwan has actively promoted the "Emerging Technology Application for Strengthening Communication Network of Digital Resilience in Emergencies or War" project in recent months. MoDA is dedicated to building a diverse and robust satellite communication system to ensure seamless communication during emergencies.
On July 6th, MoDA signed the project contract with Telecom Technology Center (TTC), the government-funded foundation of Taiwan. MoDA extends the welcome to international Asynchronous Orbit Satellite System suppliers and domestic related companies to collaborate with TTC. By leveraging the practical experience of satellite communication operators and the research capabilities of TTC in the information and communication technology field, parties can jointly complete the verification project and enhance the digital resilience of the country's communication network.
AERKOMM and EJECTT, the exclusive agent for AERKOMM Taiwan Inc., will collaborate in TTC's bid, utilizing the Multi-Orbit Satellite Communication capability. The joint effort aims to expand and deepen the satellite communication business in Taiwan, capture new business opportunities, and solidify the position as key players in the satellite communication landscape.
The original press release can be viewed on Aerkomm's website here: https://www.aerkomm.com/post/aerkomm-inc-and-ejectt-inc-sign-loi-advancing-potential-merger
About Aerkomm Inc.
Aerkomm Inc. (Euronext Paris: AKOM; OTCQX: AKOM), is an innovative space technology communication solutions provider and Licensed Satellite Service Operator. The Company strives to become a multi-orbit LEO/MEO/GEO/HEO space technology provider. From Aerkomm's experience preparing to service the IFEC markets and focusing on delivering Ka/Ku connectivity, the Company has been able to utilize its industry expertise and engineering capabilities to develop a state-of-the-art technology to apply across multiple sectors of satellite communications.