News: SpeedCast new acquisition expands into energy

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SpeedCast International Limited (ASX:SDA) has inked what it describes as a game-changing deal to buy UK-based Hermes Datacommunications International Limited for up to $US34 million.  

 

The satellite network service provider says the acquisition is of a leading global provider of managed network services for the upstream oil and gas industry. 

 

SpeedCast believes the asset will enable it to provide communications and IT services to the energy sector and serve and support global energy customers. 

 

CEO Pierre-Jean Beylier says Hermes Datacomms will open a new chapter for Speedcast’s energy business and expand its scale, scope and capabilities. 

 

SpeedCast International reported a net loss of $8.46 million in the 2014 calendar year.