New Asian Direct-to-Home (DTH) Satellite Provider Adds Veteran Executive
During his time at Hughes, Mr. Dorfman served as CEO of Hughes Space and Communications Company, the world's leading builder of communication satellites, Hughes Communications, a leading owner and operator of communication satellites and Hughes Telecommunications and Space, a unit responsible for the above businesses plus the international development of DirecTV. While CEO of Hughes Communications, Mr. Dorfman was responsible for the development of the Galaxy System, the leading North American satellite service provider, subsequently merged with PanAmSat; the JCSAT system for Japan, in partnership with Mitsui and Itochu; the initiation of the direct to home business at Hughes which ultimately became DirecTV; and several other satellite businesses.
Philip Father, ProtoStar's CEO, described Mr. Dorfman as "one of the industry's leading visionaries and builders who brings his unique satellite development, DTH launch experience and his knowledge of the Asian market to ProtoStar at an important stage in our development." He added that, "Steve's experience in building the Galaxy constellation and in helping develop DTH systems worldwide is a perfect complement to ProtoStar's own business plan."
"I'm pleased to join a highly qualified Board of Directors overseeing a group of seasoned satellite professionals and I believe that ProtoStar's business model will continue to be well received in the Asian market," stated Mr. Dorfman.
ProtoStar's Chairman, John Higginbotham who is also the chairman of SpaceVest said: "We are delighted that Steve has joined us to bring his wealth of industry insights, perspectives and relationships to ProtoStar. 2006 will be a year of rapid growth and Steve's participation will be invaluable in helping to steward the company through this period."
ProtoStar's planned footprint will reach over 3 billion people in India, Indonesia, China, the Philippines and South East Asia. 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 early 2007.
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 http://www.protostarsat.com.
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 http://www.nea.com.
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 http://www.spacevest.com.