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SES seals Intelsat takeover, creating satellite giant with 120-bird fleet

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LUXEMBOURG:  Satellite heavyweight SES has wrapped up its acquisition of Intelsat, creating a turbocharged space communications firm with a 120-strong satellite arsenal spanning geostationary (Geo), medium Earth orbit (Meo), and strategic access to low Earth orbit (Leo) assets. The announcement was made on 17 July 2025. 

The deal instantly boosts SES’s clout in high-growth verticals, with around 60 per cent of revenues now flowing from aviation, maritime, government, and media clients. The expanded fleet includes roughly 90 Geo and nearly 30 Meo satellites, with the new entity operating across a rich spectrum of bands including C, Ku, Ka, military Ka, X, and UHF—enabling tailored, premium-grade connectivity solutions globally.

“Today, we’re not just merging two companies — we’re creating a stronger company, built for the future. I want to extend a warm welcome to all new employees, customers, and partners,” said SES CEO Adel Al-Saleh. “In this new chapter, we are bringing together a powerful mix of talented people, network infrastructure, spectrum, innovation, and global relationships that will allow us to deliver next-generation connectivity and space-enabled services in smarter and quicker ways.”

The financials are just as skyward. The merged outfit expects pro forma revenue of €3.7 billion growing at a low- to mid-single digit CAGR between 2024 and 2028. Adjusted EBITDA is pegged at €1.8 billion with mid-single digit growth including synergies, while adjusted free cash flow is set to top €1 billion by 2027–2028 (pre-IRIS2).

A hefty €8 billion contract backlog provides strong revenue visibility, while cost synergies—valued at a net present value of €2.4 billion—are expected to deliver an annual run rate of €370 million, with 70 per cent realised within three years. Savings will come from merged fleets, streamlined ops, and smarter procurement.
SES, which remains headquartered in Luxembourg and listed on both the Paris and Luxembourg bourses ), will maintain a key base in McLean, Virginia. The firm has set its sights firmly on emerging frontiers including IoT, direct-to-device comms, space situational awareness, quantum key distribution, and inter-satellite data relays. Annual capex (excluding IRIS2) is expected to average €600–650 million through 2028.

SES has also signalled intent to raise its base dividend once it achieves sub-3x net leverage, expected within 12–18 months.

Legal and financial advisors on the transaction read like a who’s who: SES leaned on Guggenheim Securities, Morgan Stanley, Deutsche Bank, and legal bigwigs from Gibson Dunn to Hogan Lovells. Intelsat was advised by PJT Partners, with legal counsel from Skadden, Wiley Rein, and Elvinger Hoss Prussen.

The move solidifies SES’s place among the top tier of global satellite operators—now armed with more firepower, deeper pockets, and sharper intent to lead the new space race.

iWorld

Netflix celebrates a decade in India with Shah Rukh Khan-narrated tribute film

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MUMBAI: Netflix is celebrating ten years in India with a slick anniversary film voiced by Shah Rukh Khan, a nostalgic sprint through a decade that rewired how the country watches stories. The campaign doubles as both tribute and reminder: streaming did not just enter Indian homes, it quietly rearranged them.

Roll back to 2016 and television still dictated schedules. Viewers waited weeks, sometimes months, for favourite films to appear on prime time. Family-friendly filters narrowed options further, and piracy often filled the gaps. Then Netflix arrived, softly but decisively, carrying a catalogue of international titles rarely seen in Indian theatres and placing them a click away. Old blockbusters and new releases suddenly coexisted on the same digital shelf.

The platform’s real inflection point came in 2018 with Sacred Games, a breakout series that refused to dilute India’s grit for global comfort. Audiences embraced its unvarnished tone, signalling readiness for stories that did not need box-office validation or censorship compromises. What followed was a steady procession of relatable narratives. Competitive-exam anxiety fuelled Kota Factory. College relationships unfolded in Mismatched. Everyday pressures, not grand spectacle, proved bankable.

Language barriers thinned as foreign series arrived with Hindi, Tamil and Telugu dubbing, expanding viewership beyond urban English-speaking pockets. Marketing mirrored the shift. For global releases such as Squid Game, Netflix leaned on regional creators and influencers to localise buzz and make international content feel native.

The library widened beyond fiction. Documentaries stepped out of festival circuits into living rooms. Stand-up comedians found scale. Established filmmakers, including Sanjay Leela Bhansali with Heeramandi, embraced the platform’s long-form canvas. Subscriber numbers swelled to 12.37 million in India, according to Demandsage, and behaviour followed suit. Late-night binges became routine. Friday release rituals loosened. Watch parties turned solitary screens into social events.

Economics demanded adjustment. Early subscription pricing carried a premium aura that deterred many households. Over time, Netflix recalibrated plans to align with Indian spending sensibilities, conceding that accessibility is as critical as content. To extend momentum around marquee titles, the platform also experimented with split-season releases, stretching anticipation and watch time.

The anniversary film, narrated by Shah Rukh Khan, captures the linguistic shift that mirrors the cultural one: from “Netflix pe kya dekha?” to “Netflix pe kya dekhein?” The question moved from recounting the past to planning the next binge. In ten years, Netflix morphed from foreign entrant to familiar fixture, exporting Indian stories abroad while importing global ones home. The remote no longer waits; it chooses, clicks and moves on. In the streaming age, patience is out, playlists are in, and the next episode is always one tap away.

 

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Delhivery chairman Deepak Kapoor, independent director Saugata Gupta quit board

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Gurugram: Delhivery’s boardroom is being reset. Deepak Kapoor, chairman and independent director, has resigned with effect from April 1 as part of a planned board reconstitution, the logistics company said in an exchange filing. Saugata Gupta, managing director and chief executive of FMCG major Marico and an independent director on Delhivery’s board, has also stepped down.

Kapoor exits after an eight-year stint that included steering the company through its 2022 stock-market debut, a period that saw Delhivery transform from a venture-backed upstart into one of India’s most visible logistics platforms. Gupta, who joined the board in 2021, departs alongside him, marking a simultaneous clearing of two senior independent seats.

“Deepak and Saugata have been instrumental in our process of recognising the need for and enabling the reconstitution of the board of directors in line with our ambitious next phase of growth,” said Sahil Barua, managing director and chief executive, Delhivery. The statement frames the exits less as departures and more as deliberate succession, a boardroom shuffle timed to the company’s evolving scale and strategy.

The resignations arrive amid broader governance recalibration. In 2025, Delhivery appointed Emcure Pharmaceuticals whole-time director Namita Thapar, PB Fintech founder and chairman Yashish Dahiya, and IIM Bangalore faculty member Padmini Srinivasan as independent directors, signalling a tilt towards consumer, fintech and academic expertise at the board level.

Kapoor’s tenure spanned Delhivery’s most defining years, rapid network expansion, public listing and the push towards profitability in a bruising logistics market. Gupta’s presence brought FMCG and brand-scale perspective during a period when ecommerce volumes and last-mile delivery economics were being rewritten.

The twin exits, effective from the new financial year, underscore a familiar corporate rhythm: founders consolidate, veterans rotate out, and fresh voices are ushered in to script the next chapter. In India’s hyper-competitive logistics race, even the boardroom does not stand still.

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Meta appoints Anuvrat Rao as APAC head of commerce partnerships

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SINGAPORE: Anuvrat Rao has taken charge as APAC  head of commerce and signals partnerships at Meta, steering monetisation deals across Facebook, Instagram and WhatsApp from Singapore. The former Google executive, known for launching Google Assistant, PWAs, AMP and Firebase across Asia-Pacific, steps into the role after a high-growth stint as chief business officer at Locofy.ai.

At Locofy.ai, Rao helped convert a three-year free beta into a paid engine, clocking 1,000 subscribers and 15 enterprise clients within ten days of launch in September 2024. The low-code startup, backed by Accel and top tech founders, is famed for turning designs into production-ready code using proprietary large design models.

Before that, Rao founded generative AI venture 1Bstories, which was acquired by creative AI platform Laetro in mid-2024, where he briefly served as managing director for APAC. Alongside operating roles, he has been an active investor and advisor since 2020, backing startups such as BotMD, Muxy, Creator plus, Intellect, Sealed and CricFlex through a creator-economy-led thesis.

Rao spent over eight years at Google, holding senior partnership roles across search, assistant, chrome, web and YouTube in APAC, and earlier cut his teeth in strategy consulting at OC&C in London and investment finance at W. P. Carey in Europe and the US.

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