TA-owned SpeedCast buys Australian Satellite Communications
TA Associate Partners-backed SpeedCast has completed a buyout of Australian Satellite Communications (ASC). The company provides satellite-based communications solutions throughout Australia and surrounding regions.
TA Associates acquired Hong Kong-based SpeedCast from Asia Satellite Telecommunications for $32.2 million in September. The company is a global network and satellite communications service provider, offering managed network services in over 30 countries throughout Asia, the Middle East and Africa.
In 2011, SpeedCast recorded a net profit HK$25 million ($3.2 million), up 9% from the previous year, based on revenues of HK$239 million.
"As a profitable and rapidly growing company, ASC is an ideal fit with SpeedCast's global growth strategy," said Pierre-Jean Beylier, CEO of SpeedCast. "With the acquisition of ASC, SpeedCast consolidates its leadership position in Asia and extends its penetration into the important Australian market, particularly for the oil and gas and mining verticals."
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