TA-owned SpeedCast buys PNG communications specialist

Financial details were not disclosed. TA bought Hong Kong-based SpeedCast from Asia Satellite Telecommunications two years ago for $32.2 million and has now completed five bolt-on acquisitions, four of them in Australia.

Oceanic provides satellite internet, telephony and IPTV services throughout Australia and the Pacific Islands, working with governments, natural resources companies, educational institutions, banks, resorts and small businesses in remote locations. It is expected to complement Speedcast's efforts to build a leading position servicing the Australasia mining and oil and gas industries.

Oceanic brings an established customer base in Papua New Guinea (PNG), which has emerged as a fast-growing oil and gas market. Notably, ExxonMobil's liquefied natural gas (LNG) project in PNG - a development seven years in the making - is expected to deliver its first cargo later this year. PNG already accounts for the bulk of Oceanic's business.

"This latest investment, like our recent SatComms Australia acquisition, further cements our ability to provide our natural resource customers with an unmatched level of local infrastructure and support in the key markets where they operate, Pierre-Jean Beylier, CEO of SpeedCast, said in a statement.

SpeedCast provides network and satellite communications services across 60 countries as well as operating a global maritime network. The company bought SatComms in May to boost its presence in Australia. This followed the purchase of Pactel in June 2013 and Australia Satellite Communications in December 2012.

SpeedCast also bought Elektrikom Satellite Services, a maritime network service provider based in the Netherlands, in 2013.

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