Satellite Solutions Worldwide becomes Bigblu Broadband (AIM:BBB)
Today Satellite Solutions Worldwide Group PLC has changed its name to Bigblu Broadband Group PLC. The company’s new stock market ticker is BBB.
The change of name, which has been planned for many months, reflects the fact that although the business has grown significantly over the last 9.5 years with a core competence and market share in satellite broadband, for some time now the business has been technology agnostic deploying a variety of different alternative broadband solutions with the aim of getting the ultimate in market penetration, and delivering the best possible user experiencefor the money for its customers.
Bigblu’s core technologies remain satellite broadband, ultra-fast fixed wireless (radio) broadband, and where available fixed 4G and 5G using cellular networks. Currently around 82% of the company’s customers are on satellite broadband with 18% on various fixed wireless broadband and alternative solutions.The business continues to work closely with a wide variety of technology and satellite companies around the world who have products in the pipeline which may in the future fit our markets and positioning, and we’ll bring those into our customer offer if and when appropriate on a market by market basis.
Satellite broadband is an excellent fit for many rural homes and businesses (we are now delivering 50 Mb download speeds over satellite broadband in many countries) particularly in areas where population density is low. However fixed wireless broadband is also an excellent broadband solution with low latency, and high throughputs which enable very high (ultra-fast>100 Mbps) download speeds with truly unlimited data allowances for end users. There are a significant number of Government grants and subsidies available in various locations across Europe and Australia for the deployment of next generation fixed wireless networks. Bigblu with its experience and track record in building out large scale fixed wireless networks is well positioned to bid for and win more of this grant funding. The business has already won 2 out of the 3 Government tenders its bid for in the UK, and 2 out of 2 of the ones its bid for in Norway.
The company remains very clearly focused on its niche market of the last 5% - 10% of customers in each country that are unserved or underserved by fibre broadband. Bigblu enters markets on a country by country basis after carefully evaluating a mixture of market factors including the state and extent of the country’s telecoms infrastructure, the topography of the land in country, the Gross Domestic Product, the cultural appetite for broadband andwhether the incumbent telco, Government or technology partner is financially stimulating the market, by backing alternative broadband technologies to get this last 5% to 10% of the population properly connected.
In the last 3 years since the business listed on AIM, we have acquired 20 other businesses, in 9 countries. During that process we have inherited a plethora of different brands in different countries. Commencing in June 2018, we will start to rebrand these local businesses as applicable to bring the whole company, its customers, its staff and investors, behind one powerful alternative broadband brand, Bigblu broadband.
For new and existing investors, the name change positions the company as established but innovative and fast growing alternative broadband provider of global scale, serving customers where traditional telcos don’t or won’t deliver next generation broadband access and speeds.