Speedcast to Acquire UltiSat and Create New Government Division
24 July 2017 - 11:11AM
Business Wire
Acquisition of UltiSat Extends Speedcast Remote
Communications Leadership into Government Sector
Speedcast International Limited (ASX: SDA), the world’s most
trusted provider of highly reliable, fully managed, remote
communication and IT solutions, today announced it has entered into
a definitive agreement to acquire UltiSat for a purchase
consideration of up to USD$100 million, payable over two years and
subject to the ongoing financial performance of the company.
UltiSat is a leading provider of remote communications and
professional services to governments, in particular the US
government, and to international government organizations (IGOs)
and non-governmental organisations (NGOs). The acquisition
strengthens Speedcast’s position in the government and NGO sectors,
complementing Speedcast’s government activities in Australia, Asia,
Europe and Latin America.
“The acquisition of UltiSat extends Speedcast’s position serving
government and NGO customers, at a time when we expect government
spending to rise. UltiSat has built a really strong reputation
providing remote communications and professional services to key
customers, such as the U.S. government and IGOs,” said Speedcast
CEO Pierre-Jean Beylier. “I am excited to have the UltiSat team
joining Speedcast. Speedcast’s scale, global network and unique
support services capabilities will enable the combined group to
provide expanded services and coverage for UltiSat’s customers
around the world. Speedcast will also be able to leverage UltiSat’s
solutions and expertise to serve other governments globally with
which Speedcast has existing relationships.”
UltiSat CEO Mohammed G. Abutaleb will lead the newly-formed
government division at Speedcast that will be focused on providing
communication solutions and professional services to Speedcast’s
and UltiSat’s existing and new government and IGO customers, as
well as driving new growth in the nearly $5 billion market for
government and military satellite communications.
“The UltiSat team is thrilled to join the Speedcast Group.
Speedcast’s scale and global capabilities will enable us to expand
the portfolio of services we can offer to our customers and to
pursue new opportunities. This is an exciting development for our
employees and our customers, and I look forward to taking our
combined government and IGO business to new heights over the years
to come,” said Mr. Abutaleb.
The transaction is expected to complete in the fourth quarter of
2017 subject to customary closing conditions, including regulatory
approvals. Speedcast was advised by Goodwin Procter LLP and
Deloitte Global. UltiSat was advised by Pillsbury Winthrop Shaw
Pittman LLP and Trinity Advisers.
For more information about Speedcast, please visit
www.speedcast.com.
About Speedcast International Limited
Speedcast International Ltd (ASX: SDA) is the world’s most
trusted provider of highly reliable, fully managed, end-to-end
remote communication and IT solutions. The company utilizes an
extensive worldwide footprint of local support, infrastructure and
coverage to design, integrate, secure and optimize networks
tailored to customer needs. With differentiated technology, an
intense customer focus and a strong safety culture, Speedcast
serves more than 2,000 customers in over 140 countries via 39
teleports, including offshore rigs and cruise ships, 10,000+
maritime vessels and 4,500+ terrestrial sites. Speedcast supports
mission-critical applications in industries such as maritime, oil
and gas, enterprise, media, cruise and government. Learn more at
www.speedcast.com.
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Speedcast® is a trademark and registered trademark of Speedcast
International Limited. All other brand names, product names, or
trademarks belong to their respective owners.
© 2017 Speedcast International Limited. All rights reserved.
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Speedcast International LimitedIan Baldwin, +61 432 680 746Chief
Financial Officerian.baldwin@speedcast.com
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