SpeedCast International Ltd Completes UltiSat Acquisition

November 6, 2017 - Speedcast International Limited has completed the previously announced 100% acquisition of UltiSat in a cash transaction of up to USD 100M, payable over two years and subject to ongoing financial performance. The closing is effective as of 1 November 2017. The acquisition of UltiSat accelerates Speedcast's push into the government vertical, a global market of USD 4.8B per annum, and gives Speedcast critical mass in the vertical with over USD 100M in revenues globally. Increasing demand for connectivity and a new investment cycle will underpin long-term growth in the government vertical, supported by technology enhancements and satellite capacity availability. The acquisition of UltiSat extends Speedcast's position serving government and Inter-Governmental Organization (IGO) customers at a time when government spending is expected to rise. UltiSat is a leading provider of remote communications and high-touch professional services in these sectors, in particular the US Government. This compliments Speedcast existing government related activities in Australia, Asia, Europe and Latin America. UltiSat will become a wholly-owned subsidiary of Speedcast International Limited. UltiSat's CEO Mohammed G. Abutaleb will lead the UltiSat subsidiary as well as the newly formed Global Government division.