Alaska Communications Systems Group Inc (NASDAQ:ALSK) is trading slightly lower in the pre-market session.
Market Reaction
As of 7:14, ALSK is down 1.20% to $3.30 with 2K shares traded hands.
Major Trigger:
Alaska Communications Expands Connectivity Offerings With Low Earth Orbit Satellites
Key Highlights:
- signed a Distribution Partner Agreement with OneWeb, the global communications network powered from space, to expand the company’s connectivity solutions across Alaska.
- Through the agreement, Alaska Communications will sell OneWeb’s low Earth orbit (LEO) satellite service to its customers and use OneWeb’s infrastructure for critical middle mile connections.
- LEO satellites deliver fiber-like connectivity performance to areas that have been inaccessible via terrestrial options. Businesses, local governments, schools, healthcare providers and resource developers need high speed, low latency connections to keep up with growing demands, like video conferencing, telehealth, cloud computing and more.
Key Quote:
“We’re pleased to work with OneWeb to offer LEO services in Alaska,” said Bill Bishop, president and CEO of Alaska Communications. “We see this as a milestone moment in our ability to offer low-latency, high-speed service across Alaska, particularly in rural areas.”
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