Asian satcoms provider SpeedCast has bought Papua New Guinea-focused satellite solutions firm Oceanic Broadband to strengthen its natural resources business.
It is Hong Kong-based SpeedCast’s fifth acquisition since being sold to private equity firm…
Asian satcoms provider SpeedCast has bought Papua New Guinea-focused satellite solutions firm Oceanic Broadband to strengthen its natural resources business.
It is Hong Kong-based SpeedCast’s fifth acquisition since being sold to private equity firm TA Associates in September 2012 for around US$32m.
The latest deal, which comes a month after it snapped up teleport owner SatComms Australia, gives the group a site in Port Moresby so customers can connect to Papua New Guinea’s capital city in a single satellite loop.
SpeedCast CEO Pierre-Jean Beylier said: “This latest investment, like our recent SatComms Australia acquisition, further cements our ability to provide our natural resource customers with an unmatched level of local infrastructure and support in the key markets where they operate.
“In addition, it establishes a strong point-of-presence for SpeedCast in the fast growing PNG market, strengthening our position as the leading satellite service provider in the Asia-Pacific region.”
As well as SatComms Australia, SpeedCast has also acquired Australasian satellite players Australian Satellite Communications and Pactel International over the past 18 months. It bolstered its European operations in early 2013 by buying Dutch maritime satcoms group Elektrikom Satellite Services.
Its rapid growth comes as the group reportedly hires UBS to advise on a stock exchange listing that could raise around A$100m (US$93m) by floating as little as 30%.
