Hanwha Systems acquired the business and assets of Phasor Solutions, a U.K.-based satellite communication antenna developer, to step up its advance into the global business
Hanwha Systems (CEO: Youn Chul Kim) recently closed a deal to acquire the business and assets from a leading overseas satellite communication antenna developer in an effort to build its future growth engine and advance into the global market.
HSC released its acquisition of the business and assets of Phasor Solutions, Ltd., a U.K. tech venture for satellite communication antenna technology, which was made as of June 5th, 2020 (local time).
Phasor Solutions is a UK based company founded in 2005 to develop satellite communication antenna technology. Phasor Solutions has been the leading developer of broadband ESA (electronically steerable antenna), enabling high speed communication in-flight, at sea or land. Its R&D efforts have been focused on the design and development of semiconductor-based next generation satellite antennas. Phasor Solutions is providing planar antennas, which boast of strong performances, all made possible by applying the most advanced technologies in the world.
Phasor Solutions’ proprietary technologies include flat antenna beam steering and semiconductor ship design technology required for antenna Tx/Rx controls. These are the most advanced technologies in the industry. By acquiring the business and assets of Phasor Solutions, HSC secured Phasor Solutions’ engineers, proprietary technology including technical data and IPs (Intellectual Property Rights) as well as tangible assets like test equipment, etc.
Meanwhile, HSC has been searching for its future growth engine and looked at possible investment opportunities in satellite communication antenna business since last year. As Phasor Solutions entered into an insolvency process due to the financial difficulties coming from the implications of COVID-19 contagion, HSC actively contacted Phasor Solutions for the acquisition deal.
HSC is Korea’s No. 1 MFR technology company securing many high tech communications and radar technologies, and it is planning to enter into the satellite communication antenna business, where HSC’s existing communication and radar technologies can be fully utilized, and securing proprietary technology for Low Earth Orbit satellite antenna, thereby strengthening HSC’s aerospace system capabilities.
As for Low Earth Orbit satellite communication, it is one of the next generation technologies, which provides broadband connectivity such as 5G, LTE internet services from the satellites hovering over the Earth. Now, leading US tech giants like Amazon, SpaceX, etc., are scrambling to capture this satellite broadband connectivity business, which does not require any base stations for the interne services.
In order to realize such “Space Internet,” Phasor Solutions’ satellite antenna technology will be the key element, as it ensures a reliable connectivity from anywhere in the world where the internet connectivity is normally unavailable, such as the locations on the sea, in the air or in remote areas thru communication with low orbit satellites by installing antennas on the airplane, ship, train, or vehicle, etc.
In particular, since this technology can offer high quality wireless internet services like video streaming on the airplane, and can be used for autonomous vehicle telematics (wireless internet services for vehicles), the demand for this technology is expected to grow explosively. In line with this trend, the market volume for satellite communication equipment is likely to grow continuously, reaching up to $42.4 billion (Approx. 50 trillion won) in 2026.
Mr. Youn Chul Kim, CEO of Hanwha Systems, mentioned that, “though we are going thru hard times due to the impacts of COVID-19 pandemic, our company made a swift decision for the investment as this market has the big potential for the growth and this technology is of strategic importance for HSC.” He also said that “HSC will broaden the existing telecommunication, sensor, ICT (Information & Communication Technology) capabilities to satellite antenna technology base, so that we can level up HSC’s corporate values and competitiveness.
In line with this ambitious move, HSC will accelerate its efforts to identify new businesses for the company’s continuous growth and advance into the global business. In July last year, HSC announced its plan to enter into PAV (Personal Air Vehicle) business. Also, in Feb 2020, the office opening ceremony of Overair, Inc., was held to initiate HSC’s collaborative development of Butterfly, one of PAV models. By the acquisition of Phasor Solutions’ business and assets, HSC now broadens the horizon for its future business areas to the global satellite communication business.
Phasor Solutions' ESA (Electronically Steerable Antenna)
A prototype of Phasor Solutions' ESA (Electronically Steerable Antenna)