SpeedCast International Limited
(ASX:SDA) says it has strengthened its maritime business with the acquisition of SAIT Communications.
The satellite network service provider has inked a definitive agreement to buy what it describes as a fast-growing maritime communication services provider.
Speedcast says its maritime business is a key growth engine for the company and the acquisition will give it a very strong foothold in Southern Europe.
The deal is expected to be tied up by the end of this week.
SpeedCast International reported a net loss of $8.46 million in the 2014 calendar year.
