NEW YORK & REHOVOT, Israel–(BUSINESS WIRE)–SatixFy Communications Ltd., a leader in next- generation satellite communication systems based on in-house developed chipsets, today announced that Co-Founder and Chief Financial Officer Yoav Leibovitch has been named to the role of Co-Chairman of the Board. In addition, the company is also announcing that it has hired a new CEO, expected to join the company on June 26, 2022. These announcements are the culmination of a succession planning process that began in the Fall of 2021 when SatixFy began to pursue a business combination with Endurance Acquisition Corp. with the intent of becoming a publicly traded company. SatixFy Co-Founder and CEO Yoel Gat will be transitioning from the role of CEO but will remain with the Company as Co-Chairman of the Board. Mr. Gat has been a major driving force behind the company’s growth to date. His vision led to SatixFy’s current technology leadership position, and the depth of talent and institutional knowledge he has brought to SatixFy will serve it as SatixFy executes on its vision going forward.
“While we have enjoyed great success since Yoav and I co-founded the company in 2012, I believe we have barely scratched the surface of the opportunity ahead,” said Mr. Gat. “With that in mind, we have been engaged in extensive discussions with our Board of Directors and our shareholders in recent months about the next phase of growth for SatixFy and I am excited to have Yoav Leibovitch, my unbelievable partner for over 30 years, as a Co- Chairman of the board of directors. As we prepare to enter the public markets, it is time for me to hand over the day-to-day leadership of the company to an experienced CEO. Our new CEO will bring over a decade of experience as a CEO. His experience in the broader communications verticals will provide added depth to SatixFy’s management team as we enter a phase of expected business growth and the transition to the public markets with Endurance Acquisition Corp.”
SatixFy expects to announce the name of the new CEO in the coming weeks, as soon as he is free to do so in his current position. He will bring significant technology leadership, communication industry know-how and public company experience to SatixFy’s strong executive team, which includes Mr. Leibovitch, President Simona Gat, and Chief Technology Officer Doron Rainish, who have worked together with the broader leadership team to develop the vision, strategy and priorities of the business.
“We are very pleased with the results of our CEO search that began last year,” said Mr. Leibovitch. “Our new CEO has significant experience running public companies, and his experience in RF and communications will be very helpful as we scale the business in coming years. We are proud of what we have achieved to date, and believe that he is the right person to execute on our strategic plan to make SatixFy a significant player in space-based communications.”
On March 8, 2022, SatixFy announced that it had entered into a definitive business combination agreement with Endurance, a publicly traded special purpose acquisition company formed by an affiliate of Antarctica Capital, an international private equity firm.
About SatixFy
SatixFy is developing satellite communications systems, including satellite payloads, user terminals and modems, all of which are powered by its proprietary chips. Its modems, with Software Defined Radio (SDR) and Electronically Steered Multi Beam Antennas (ESMA), are designed to support the most advanced communications standards, such as DVB-S2X. SatixFy’s ASICs and RFICs are designed to improve significantly on current generation satellite communications system performance and reduce the weight and power requirements of terminals, payloads and save real estate for gateway equipment. The company delivers advanced VSATs and multi-beam electronically steered antenna arrays for a variety of mobile applications and services such as LEO, MEO and GEO satellite communications systems, Aero/in-flight connectivity systems, communications-on-the-move applications, satellite-enabled Internet-of-Things and machine-to-machine devices. SatixFy was founded in 2012, and is headquartered in Rehovot, Israel with additional offices in the United States, United Kingdom and Bulgaria. (www.SatixFy.com).
About Endurance Acquisition Corp.
Endurance is a special purpose acquisition company formed by an affiliate of Antarctica Capital, an international private equity firm, for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Endurance was founded on April 23, 2021 and is headquartered in New York, NY.
