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Speedcast Completes Acquisition of UltiSat for $100 Million

Tuesday, November 7, 2017   (0 Comments)
Posted by: Dana Najmowski
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Speedcast International announced it has completed the previously announced 100 percent acquisition of UltiSat in a cash transaction of up to $100 million, payable over two years. The closing is effective as of Nov. 1.

 

The acquisition of UltiSat accelerates Speedcast’s push into the government vertical, a global market of $4.8 billion annually, and gives Speedcast critical mass in the vertical with more than $100 million in revenues globally. According to Speedcast, increasing demand for connectivity and a new investment cycle will underpin long-term growth in the government vertical, supported by technology enhancements and satellite capacity availability. The acquisition of UltiSat extends Speedcast’s position serving government and Inter-Governmental Organization (IGO) customers at a time when government spending is expected to rise.

“The acquisition of UltiSat creates a fourth pillar of growth for Speedcast,” said Speedcast Chief Executive Officer (CEO) Pierre-Jean Beylier.

UltiSat’s CEO Mohammed Abutaleb will lead the UltiSat subsidiary as well as the newly formed global government division

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