Update to £2 million BGF Funding for Acquisitions

Satellite Solutions Worldwide Group plc

("Satellite Solutions Worldwide Group", "SSW" or the "Company")

Update to £2 million BGF Funding for Acquisitions

Satellite Solutions Worldwide Group (AIM: SAT), the global communications company specialising in rural, last-mile satellite broadband, announces that further to the announcement dated 25 April 2016 regarding the £2million funding for further acquisitions provided by BGF, it has completed the smaller of the two French acquisitions and expects to complete the second in the coming weeks.

The combined acquisitions, once completed, will add 2,400 customers to the Company's customer base, cementing the Company's position as the second largest satellite broadband provider in France as well as extending the suite of products the Company has to offer.  The Company continues to evaluate a number of significant acquisition opportunities in line with its stated strategy and further announcements will be made at the appropriate time.

Market Opportunity in France

SSW is already one of the leading players in the French market.  In order to take advantage of the rapid progress made to date in France, and to further consolidate its industry position, SSW has opened a new business and European logistics centre in Amiens under its Europasat France subsidiary.  The centre is being headed up by Franck Delille, who was recently appointed Country Manager in France.  The office in Annecy, inherited with the Sat2Way acquisition, is now expected to close with all French operations to be managed out of Amiens.

The French Government's subvention scheme, which has a stated commitment to enable 150,000 broadband subscribers on satellite by the end of 2018, has helped underpin the strong organic growth in France with last year's acquisitions of Sat2Way and Vertical Connect now fully integrated and contributing to the bottom line.

All terms have the same meaning as the announcement dated 25 April 2016.

Andrew Walwyn, CEO of SSW, commented:

"We are delighted with the rapid progress we have made in France. There is clearly plenty of scope for further growth and we now have the structure in place to take full advantage of any opportunities that present themselves. The funds provided by BGF helped us to move quickly and we are grateful to them for their support.

"We continue to see significant scope for organic and acquisitive growth and are excited by the number of opportunities for the Company to scale up rapidly. With strong foundations and a proven model in place we are well positioned to benefit from continued growth in broadband demand and initiatives underpinned by government support." 

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About SSW

Established in 2008, SSW offers a wide range of satellite broadband services to customers across 31 countries. With solutions targeting B2C and B2B users, and with products developed specifically for the broadcasting / Satellite News Gathering, Police and Military markets, SSW's brand Europasat is a leading independent provider of satellite broadband internet services across Europe.

Listing on the London Stock Exchange as Satellite Solutions Worldwide Group plc (AIM: SAT) on 12 May 2015, and with a track record of strong organic growth in its subscriber base and recurring revenues, the directors of SSW continue to believe there is a major opportunity to enhance the businesses organic growth with select acquisitions throughout the fragmented European satellite broadband market.

Working closely with satellite owners and operators, SSW targets customers in the 'digital divide' with solutions that deliver up to 30 Mbps satellite based broadband services to almost any premises, whether residential, commercial or industrial across Europe, irrespective of location or local infrastructure.