Speedcast
(ASX:SDA) says it has completed the acquisition of Globecomm systems for $134 million.
Speedcast says the purchase strengthens its global leadership with enhanced competitive positions in Government, Maritime and Enterprise.
Globecomm is a leading provider of remote communications and multi-network infrastructure in over 100 countries.
Speedcast is confident of achieving a targeted US$15 million in annual costs synergies within 18 month of completing the purchase.
Shares in Speedcast International
(ASX:SDA) are trading 2 per cent lower at $3.40.
