Speedcast International Limited (ASX:SDA) (FRA:7SC) (OTCMKTS:SPPDF), the world's most trusted provider of remote communication and IT solutions, announced today that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of the company's previously announced transaction with Globecomm Systems Inc.

Based upon its review, CFIUS has determined that there are no unresolved national security concerns with respect to the acquisition. Speedcast expects to complete the transaction in December 2018, subject to customary closing conditions. Speedcast will issue a further announcement when completion of the acquisition and associated financing occurs.


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 www.speedcast.com.

     

Contact

Toni Lee Rudnicki
Vice President, Global Marketing
Speedcast International Ltd
E: tonilee.rudnicki@speedcast.com
T: +1-832-668-2634



Link: Speedcast Announces CFIUS Approval for Globecomm Acquisition



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