Avanti Communications (AIM: AVN) has signed a three year managed services contract with the Hungarian service provider Banknet Kft. This service will be delivered by Avanti’s HYLAS 1 satellite due for launch on 25 November 2010. Banknet Kft provides critical communication services to the financial community throughout Hungary and, as the sophistication of banking and credit card systems increases, anticipates steady growth in demand for connectivity.