|[January 16, 2013]
SpeedCast Ltd Completes Buyout of Elektrikom Satellite Services
HONG KONG --(Business Wire)--
SpeedCast (News - Alert) Ltd, a leading Hong Kong-based global network and satellite
communications service provider, has completed, with the support of its
majority shareholder, TA Associates, a buyout of Elektrikom Satellite
Services, a leading maritime satellite communications service provider
based in the Netherlands. The combination of Elektrikom and SpeedCast's
maritime business unit will form one of the top maritime satellite
communications service providers in the world.
Elektrikom provides satellite and wireless-based communications
solutions to the maritime industry. The Company focuses on the high-end
segments of the maritime market, including the oil & gas and offshore
supply segments. Founded in 1985, Elektrikom is headquartered in
Rotterdam, Netherlands, where it enjoys a strong position in this key
maritime shipping hub, and also serves customers and partners throughout
Elektrikom has established itself as one of the leading maritime
satellite service providers in Europe, with a marquee list of customers
ranging from major shipping companies to offshore supply companies.
Elektrikom is well known for its expertise and ability to deliver
custom-engineered communication solutions for its customers, including
various types of satellite communications, such as Ku-band & C-band VSAT
services and L-band services, as well as wireless technologies and a
range of IT services.
"SpeedCast is well established as the leading provider of maritime
communication solutions in Asia. While our services are global, we
wanted to strengthen our presence in Europe to further support our
partners in this key region. With its strong position in the most
important European shipping hub, Elektrikom is an ideal fit," said
Pierre-Jean Beylier, CEO, SpeedCast. "With the acquisition of
Elektrikom, we are well positioned to deliver a higher level f service
and support to SpeedCast and Elektrikom customers' vessels in Europe and
Joining the SpeedCast Group, Elektrikom will be able to offer its
maritime customers a wider portfolio of products and services, including
land-based services, and to better serve its global customers' needs in
Asia. Elektrikom will also benefit from SpeedCast's broad range of
engineering capabilities worldwide, with certified field engineers able
to support maritime services and antennas onboard vessels and platforms.
These extensive support resources are strategically located in Hong
Kong, Singapore, Indonesia, Malaysia, China, Dubai, and Australia, in
addition to Elektrikom's own presence in the Netherlands.
SpeedCast will leverage Elektrikom's strength in Europe, with its
strategic Rotterdam base, to further penetrate the important European
market, as well as deliver continuity of experience for Elektrikom's
existing customers. Elektrikom's worldwide satellite communications
infrastructure will complement SpeedCast's existing global network,
adding an overlay network which will provide redundancy and backup, as
well as introducing new options for SpeedCast's global customer base.
"The acquisition of Elektrikom by SpeedCast is a very positive
development for our customers, our partners and our employees," said
André Eerland, Managing Director, Elektrikom. "There are significant
synergies between the two companies, with two leading technology
platforms, iDirect (News - Alert) and Comtech EF Data, and worldwide coverage, which
will greatly enhance our ability to deliver customized solutions to meet
our customers' needs." Mr. Eerland will remain with the merged entity
and will serve as Head of Maritime globally.
This acquisition follows shortly after SpeedCast's acquisition of
Australian Satellite Communications ("ASC (News - Alert)"), a leading satellite
communications service provider in Australia. ASC is very active in
serving customers in the natural resource market, in particular the oil
& gas industry, which complements Elektrikom's position serving the oil
& gas and offshore industries in Europe.
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 10
international sales & support offices and 18 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 Elektrikom Satellite Services
Elektrikom was founded in 1985 when it started selling wireless
communication to the marine industry. Elektrikom now operates 6
teleports and supplies network services to more than 250 vessels in the
high-end sectors (oil & gas, offshore, etc.). Elektrikom has locations
worldwide, with support offices in Manila and Lagos and its headquarters
in Rotterdam, Netherlands. For more information, visit www.vsat.nl.
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