Speedcast completes Globecomm acquisition

Company News

by Anna Napoli

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.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.