Speedcast International Limited
(ASX:SDA) says it has acquired WINS Limited from Eutelsat Communications for 60 million Euros or around $87 million Australian dollars.
WINS is a leading European-based provider of satellite communications and IT solutions for the Maritime sector and extends Speedcasts largest growth engine.
The purchase also bring a strong local presence in the major maritime market of Germany in which Speedcast currently has no staff or office.
Speedcast plans an equity raising of at least $62 million AUD to partially fund the acquisitions.
Speedcast reported a half yearly net profit of $5.9 million to the end of December 2015.
