Asian satellite broadband provider SpeedCast has bought teleport firm SatComms Australia in its fourth bolt-on deal since being sold to private equity in 2012.
The move gives Hong Kong-based SpeedCast its third fully-owned teleport in Australia, in…
Asian satellite broadband provider SpeedCast has bought teleport firm SatComms Australia in its fourth bolt-on deal since being sold to private equity in 2012.
The move gives Hong Kong-based SpeedCast its third fully-owned teleport in Australia, in Henderson to the west of the country, as well as a sales and engineering presence in Queensland to the east.
Financial details were not disclosed.
Like its other consolidation plays, the acquisition aims to bolster Speedcast’s mobile satellite solutions offering for the natural resources industry, particularly oil and gas. The company said having a third fully-owned teleport gives it the flexibility to provide high levels of redundancy including site and satellite diversity.
SpeedCast CEO Pierre-Jean Beylier said: “There are significant synergies between the two companies, which will further enhance our ability to deliver customized turnkey solutions to our customers in Australia and beyond.”
Previously part of satellite operator AsiaSat, SpeedCast was bought by private equity firm TA Associates in September 2012 for around US$32m.
Its acquisition drive started just three months after when it snapped up Australian Satellite Communications, giving it a teleport in Adelaide to the south east of Australia to join the one it already had in the west.
It bolstered its European operations in early 2013 by buying Dutch maritime satcoms group Elektrikom Satellite Services, and then in April that same year acquired Pactel, the Australia-based provider of internet, private networking and voice services to telecoms, oil and gas operators.
Alongside news of its latest deal, SpeedCast said it has promoted board member John Mackay to chairman to replace Edward Sippel, who is TA Associates’ MD and will continue to serve on the board.
It has also appointed Michael Malone, former CEO of Australian ADSL giant iiNet, as an independent director.
Reports suggest Malone was hired to assist plans to raise around A$100m (US$93m) by listing as little as 30% of the group on the Australian Securities Exchange this year.
UBS is reportedly advising on the move and the most likely listing date is said to be July.
Malone led the IPO of iiNet back in 1999, and now it has a market capitalisation of around US$1bn.
