Speedcast half year energy sector profits down

SPEEDCAST, the Aussie company providing digital TV to offshore rig workers in the Gulf of Mexico and elsewhere, has announced a deal worth US$135 million to buy American infrastructure provider Globecomm from its affiliate HPS Investment Partners, Tennenbaum Capital Partners and others.

Speedcast half year energy sector profits down Speedcast half year energy sector profits down Speedcast half year energy sector profits down Speedcast half year energy sector profits down Speedcast half year energy sector profits down
 
Globecomm provides communications and multi-network infrastructure across government, maritime and enterprise sectors in 100 countries, and this new purcahse is expected to strengthen Speedcast's footprint across the government sector and   strengthen its competitive position globally.
 
It said it complements its recent buy of UltiSat and that Globecomm "will benefit from Speedcast's scale and capabilities in the maritime and enterprise markets". 
 
The company estimates it will generate over US$15 million in cost synergies within 18 months of the acquisition that will be funded from a fully underwritten $175 million add-on to the Aussie digital company's existing seven year senior secured ...