News: SpeedCast pockets NewSat assets from receivers

Global satellite telecommunications service provider SpeedCast International (ASX:SDA) has revealed that it has acquired the assets of the teleport and satellite services business of NewSat from its receivers.

The assets include the land and buildings at NewSat’s teleport facilities in Adelaide and Perth and the associated plant & equipment, as well as most of the customer and supplier contracts.

SpeedCast is also retaining 20 key employees, in the operations and engineering department and in sales, including in the U.S.

The acquisition will provide SpeedCast with a strong customer base, and the infrastructure assets will complement the company’s existing infrastructure in the region.

This will provide expansion capabilities and enhance its ability to deliver satellite communications services to its energy, government and telecom customers in Asia-Pacific, Middle-East and Africa.