Hong Kong-based satcoms provider SpeedCast has snapped up British oil and gas communications specialist Hermes datacomms to build out its global presence.
The deal includes a teleport in the UK and access to Hermes’ managed network services in more…
Hong Kong-based satcoms provider SpeedCast has snapped up British oil and gas communications specialist Hermes datacomms to build out its global presence.
The deal includes a teleport in the UK and access to Hermes’ managed network services in more than 54 countries, representing 92% of the world’s oil and gas reserves.
Financial details were not disclosed.
It is the seventh acquisition that SpeedCast has made since being sold to private equity firm TA Associates in late 2012 for US$32m.
Its bolt-on acquisition strategy has mainly focused on buying out teleport owners across Asia, however, it paid US$8.5m for Africa-focused Geolink Satellite Services last month to push into the region’s maritime and energy market.
In October 2014, SpeedCast tied up its energy businesses into a single division under the leadership of Keith Johnson, who joined from US rival Harris CapRock, where he was president of its global energy services division.
SpeedCast said it will use Hermes’ infrastructure, local presence, and more than 20 years of experience to strengthen its offering for the oil and gas sector across the world.
Based in England, Hermes specialises in a range of communications services including satellite, fibre and radio, and is present throughout Africa as well as other key energy markets including Russia, Central Asia, South East Asia and the Middle East.
SpeedCast CEO Pierre-Jean Beylier said: “This game changing acquisition opens a new chapter for our energy business, greatly expanding the scale, scope and capabilities of our business.
“Hermes Datacomms has amazing experience servicing oil and gas customers in very demanding locations. It is an ideal fit for SpeedCast and a very important milestone towards our objective to be a leading global player in the energy sector, following previous steps taken with the recruitment of Keith Johnson and the announced acquisition of Geolink.
“Hermes Datacomms is a unique asset that brings us capabilities and relationships that would otherwise be difficult and long to acquire. There are extensive synergies for the unified company, which will further enhance our ability to deliver complete end-to-end solutions to our customers globally. SpeedCast is now strongly equipped to compete globally in the oil & gas sector and deliver long term growth.”
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