HONG KONG--(BUSINESS WIRE)--SpeedCast Ltd, a Hong Kong-based global network and satellite communications service provider, together with its majority shareholder, leading global growth private equity firm TA Associates, has completed a buyout of Australian Satellite Communications Pty Ltd (ASC), a leading satellite communications service provider in Australia.
“SpeedCast is executing on its strategy of organic and acquisitive growth. With the acquisition of ASC, SpeedCast consolidates its leadership position in Asia and extends its penetration into the important Australian market, particularly for the oil & gas and mining verticals.”
ASC provides satellite-based communications solutions throughout Australia and surrounding regions. The company focuses on customers in the mining and oil & gas industries, as well as the construction, government and maritime sectors. Founded in 1985, ASC is headquartered in Adelaide, Australia, where it owns and operates its primary teleport and runs sales and support centers.
ASC has established itself as the leading privately-owned satellite service provider in Australia, with a diverse group of customers ranging from oil & gas majors, to key federal and state government customers, to large multinational miners. ASC is renowned for its engineering expertise, quality of services and field engineering support.
“As a profitable and rapidly growing company, ASC is an ideal fit with SpeedCast’s global growth strategy,” said Pierre-Jean Beylier, CEO, SpeedCast Ltd. “SpeedCast is executing on its strategy of organic and acquisitive growth. With the acquisition of ASC, SpeedCast consolidates its leadership position in Asia and extends its penetration into the important Australian market, particularly for the oil & gas and mining verticals.”
Joining the SpeedCast Group, ASC will be able to offer its customers a wider portfolio of products and services and better serve its global customers’ needs beyond Australia. SpeedCast will leverage ASC’s outstanding team to deliver continuity of experience for existing ASC customers, while augmenting SpeedCast’s own team. ASC’s Adelaide teleport will complement SpeedCast’s global network, adding a second point of presence in Australia in addition to SpeedCast’s existing teleport in Perth. This combination will provide dual-site redundancy for SpeedCast’s Australian customers and serve as a back-up to SpeedCast’s Hong Kong infrastructure.
“The acquisition of ASC by SpeedCast is a very positive development for our customers, our employees and our suppliers,” said Chris Joseland, Managing Director, ASC. “With SpeedCast’s experience, we believe that our business will now be able to take the next step in business growth. We see a great opportunity to offer our customers a broader range of satellite services and solutions, global satellite coverage and worldwide engineering support.”
VSAT service revenues in Asia, the Middle East and Africa are projected to grow at an 8% compound annual growth rate (CAGR) over the next five years, approximately twice the rate of Western markets, according to industry analyst Comsys. Demand for VSAT services in Australia in particular is projected to continue to grow due to strong demand from large-scale government projects and the natural resource market, according to Comsys.
About SpeedCast Ltd
SpeedCast Ltd is a leading global network and satellite communications service provider offering high-quality managed networks services in over 30 countries throughout Asia, the Middle East and Africa. With 8 international sales & support offices and 16 teleport operations, SpeedCast boasts a unique infrastructure to serve corporate and carriers' requirements globally. SpeedCast has distinguished itself with a strong operational expertise and a highly efficient support organization, which are the foundation of SpeedCast's success. For more information, visit www.speedcast.com.
About Australian Satellite Communications Pty Ltd
Australian Satellite Communications (ASC) provides a wide range of satellite communications solutions throughout Australia and surrounding regions. Since its establishment in 1985, ASC has steadily grown to become recognized in the industry as a leading satellite communications service provider, system integrator and supplier of satellite communications equipment in Australia. ASC provides total satellite communications solutions, focusing on the mining and oil & gas industries, as well as markets such as construction, government, maritime, education, emergency services, agriculture and entertainment. More information about ASC can be found at www.ascs.com.au.