San Francisco, USA, March 14, 2005 -- The
company's system will enable in-country partners to offer subscribers a
technically advanced, reliable, cost effective satellite television package,
providing a robust subscriber experience. A first satellite is planned for
launch in mid-2006.
Philip Father, ProtoStar's CEO, described the company's business model as
timely. "Much like we saw in North America and Europe, Asian markets are
deregulating in order to meet market requirements for DTH services. ProtoStar is
well positioned to offer optimized DTH capacity to its operator customers,
meeting critical broadcast needs. We're extremely pleased to have the support of
two of the most respected VC firms in the industry - NEA and SpaceVest."
"ProtoStar is in a unique position to serve a significantly untapped market,"
said Peter Barris, NEA managing general partner and newly appointed ProtoStar
board member. "In addition to a proven business model and demand driven market
opportunity, ProtoStar has a seasoned management team and solid advisory board
dedicated to meeting customer needs."
John Higginbotham, chairman of SpaceVest, and recently appointed chairman of
ProtoStar's board of directors, said: "We are confident that ProtoStar will
provide a new level of economic efficiency and service to its Asian customers.
SpaceVest is delighted to contribute its market leadership in support of this
refreshing business model for the satellite broadcasting industry."
About ProtoStar:
ProtoStar with operational headquarters in San Francisco, California was formed
to acquire and operate high-power geostationary satellites optimized for DTH
satellite television and broadband Internet access services in the Asia-Pacific
region. The firm is led by seasoned veterans from the satellite, direct-to-home
television, telecommunications and infrastructure finance industries. For more
information, visit www.protostarsat.com.
About NEA:
New Enterprise Associates (NEA) is a leading venture capital firm focused on
helping entrepreneurs create and build major new enterprises that use technology
to improve the way we live, work and play. Since its founding in 1978, the firm
has followed the same basic principles: support their entrepreneurs, provide an
excellent return to their limited partners and practice their profession with
high standards and respect. Practicing classic venture capital for over 25
years, NEA focuses on early stage investments, playing an active role in
assisting management to build companies of lasting value. With $6 billion under
management, NEA's experienced management team has invested in over 500
companies, of which more than 149 have gone public and more than 195 have been
acquired. NEA has offices in Reston, Virginia, Menlo Park, California and
Baltimore, Maryland. For additional information, visit www.nea.com.
About SpaceVest:
SpaceVest is a leading venture capital firm that invests in companies leveraging
advanced technologies with sound business models to provide compelling value
propositions for customers in high growth markets. The firm is a recognized
leader in emerging markets such as space and defense technologies, wireless
communications, geospatial applications, and advanced materials. SpaceVest
currently manages approximately $270 million for global institutional partners.
For more information, visit www.spacevest.com.
Contact:
ProtoStar, San Francisco
Charles Sweeney, 415-675-2227
csweeney@protostarsat.com
or
Reid Stephenson, 650-343-8195
rstephenson@protostarsat.com
News Source: Business Wire India