All Regulatory Approvals Secured to Complete the Acquisition of UltiSat, Extending Speedcast's Remote Communications Leadership into the Government Sector
Completes UltiSat Acquisition
The acquisition of UltiSat accelerates Speedcast's push into the government vertical, a global market of USD 4.8B per annum, and gives Speedcast critical mass in the vertical with over USD 100M in revenues globally. Increasing demand for connectivity and a new investment cycle will underpin long-term growth in the government vertical, supported by technology enhancements and satellite capacity availability.
"The acquisition of UltiSat creates a fourth pillar of growth for Speedcast and further strengthens Speedcast's position as the global leader in remote communications and IT services with unique scale and capabilities," said Speedcast CEO Pierre-Jean Beylier. "UltiSat's customers will benefit from our combined breadth of facilities, our engineering expertise and our unique satellite network across multiple frequency bands. Furthermore, Speedcast will be able to leverage UltiSat's experience and innovative solutions for our existing customers."
The acquisition of UltiSat extends Speedcast's position serving government and Inter-Governmental Organization (IGO) customers at a time when government spending is expected to rise. UltiSat is a leading provider of remote communications and high-touch professional services in these sectors, in particular the US Government. This compliments Speedcast existing government related activities in Australia, Asia, Europe and Latin America.
UltiSat will become a wholly-owned subsidiary of Speedcast International Limited. UltiSat's CEO Mohammed G. Abutaleb will lead the UltiSat subsidiary as well as the newly formed Global Government division.
About Speedcast International Ltd
Speedcast International Ltd (ASX:SDA) is the largest provider of remote communications and IT services in the world. Speedcast's fully managed service is delivered via a leading global, multi-access-technology, multi-band and multi-orbit network of 70+ satellites and an interconnecting global terrestrial network, bolstered by extensive on the ground local support from 40+ countries. This global "network of networks" allows customers to fully rely on the most robust, integrated infrastructure available in the market for their mission critical applications. Speedcast is uniquely positioned as a strategic business partner, tailoring communications, IT and digital solutions to meet unique customer needs and enable business transformation. Speedcast extends its managed services through differentiated technology offerings including cyber-security, crew welfare, content solutions, data & voice applications and network systems integration services. With a passionate customer focus and a strong safety culture, Speedcast serves more than 2,000 customers in over 140 countries in sectors such as Maritime, Energy, Mining, Enterprise, Media, Cruise, NGOs and Government. Learn more at Speedcast.
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