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Speedcast International Announces to Acquire UtiliSat and Create New Government Division

24 Jul 2017  |  10:12:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: SDA to acquire UtiliSat Inc and create new Govt division

Speedcast International announced that it has entered into a definitive agreement to acquire UltiSat for a purchase consideration of up to US$100m, payable over 2 years and subject to the ongoing financial performance of the company. UltiSat is a provider of remote communications and professional services to governments, in particular the US Government, and to International Government Organizations (IGOs) and Non-Governmental Organisations (NGOs). The acquisition strengthens its position in the Government and NGO sectors, complementing its government activities in Australia, Asia, Europe and Latin America. The transaction is expected to complete in Q4 2017 subject to customary closing conditions, including regulatory approvals.

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