Completes Acquisition of ST Teleport
Singapore, July 4, 2016 AEST (ABN Newswire) - SpeedCast International Limited (
ASX:SDA) (the 'Group'), a leading global satellite communications and network service provider, today announced the completion of the acquisition of ST Teleport in accordance with the terms of the Share Purchase Agreement signed on 12 November 2015. The acquisition, which was subject to Singapore regulatory approval, was completed on 1 July 2016 for an initial consideration of SGD18.5M in cash. The consideration was funded by available cash and via the Group's existing committed debt facilities.
Further details of the acquisition were included in the ASX announcements made on 13 November 2015.
About Speedcast International Ltd
Speedcast International Ltd (ASX:SDA) is the world's most trusted communications and IT services provider, delivering critical communications solutions to the Maritime, Energy, Mining, Media, Telecom, Cruise, NGO, Government, and Enterprise sectors. With more satellite capacity than any other provider, Speedcast enables faster, seamless pole-to-pole coverage from a global hybrid satellite, fiber, cellular, microwave, MPLS, and IP transport network with direct access to public cloud platforms. The company also integrates differentiated technology offerings that provide smarter ways to communicate and distribute content, manage network and remote operations, protect and secure investments, and improve the crew and guest experience. With a passionate customer focus and a strong safety culture, Speedcast serves more than 3,200 customers in over 140 countries. Learn more at www.speedcast.com.
| ||
|
