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NSI Global Exits Broadband Business
Dec 2002
MONTREAL, Dec. 30 -- NSI Communication Systems Inc., the wholly owned broadband networks subsidiary of NSI Global Inc., has filed for bankruptcy.

The decision to exit the broadband business will mean the termination by NSI Communication Systems of its 130 employees (105 are located in Montreal; the remainder in international offices).

NSI Communication Systems sells specialized satellite terminals (known as very small aperture terminals, or VSATs) that allow its corporate and government customers to communicate via voice, data or video anywhere in the world.

"This filing has no direct effect on NSI Global's mobile data operations, which have grown to become the largest part of our business with the greatest potential for growth and profitability," said David Ben-David, president and CEO of NSI Global. "NSI Communication Systems' decision to file for bankruptcy is regrettable but reflects the reality of the extremely competitive and difficult market conditions that have developed during the past couple of years and that show no encouraging signs of improving in the near term."

NSI Global said it is discussing with several organizations arrangements for the support of the broadband division's customer base and deployed networks.

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