Speedcast Sells Maritime Customer Contracts to Inmarsat
London, Nov 16, 2020 AEST (ABN Newswire) - Speedcast International Limited (
ASX:SDA) (7SC:FRA) (SPPDQ:OTCMKTS) and Inmarsat today announced that they have reached agreement on the sale of Speedcast's primary Fleet Xpress, FleetBroadband and Fleet One service contracts to Inmarsat. The agreement marks another significant step for Speedcast as it looks to emerge from its Chapter 11 proceedings announced earlier this year, and is subject to approval by the U.S. courts overseeing the Company's financial restructuring.
Through the agreement, the Speedcast customers that are transferred to Inmarsat will be assured of continuing access to Inmarsat's market-leading connectivity services. The agreement covers both Speedcast's L-band maritime contracts in which Inmarsat serves as the primary connectivity onboard, as well as the full Inmarsat Fleet Xpress portfolio from Speedcast.
Ronald Spithout, President, Inmarsat Maritime, said: "Our first priority is to ensure that these transitioning Speedcast customers can continue to access Inmarsat's reliable global maritime connectivity services and our growing range of value-added services now and into the future. With Inmarsat's ongoing, fully-funded technology roadmap, these customers will benefit from the next-generation of Ka-band and L-band satellites that we are launching over the next few years. These will provide both additional capacity and capabilities to the network. Among the seven new satellites scheduled for launch in the next few years will be the first ever High Throughput Satellites (HTS) dedicated to the Arctic region."
Andre Eerland, Vice President, Commercial Maritime at Speedcast said: "This agreement enables Speedcast to further strengthen our focus in the commercial maritime sector, delivering our leading global VSAT services, together with global L-band back-up capabilities. We pride ourselves on providing a flexible, high quality service that meets market demands and addresses the challenges of maritime connectivity. Taking this step allows us to consolidate our core connectivity services, which are scalable across all market needs, while remaining at the forefront of the maritime industry."
Speedcast will continue to deliver managed services to its commercial maritime sector clients with primary VSAT and other non-Inmarsat mobile satellite services (MSS) onboard, and will maintain its Inmarsat Distribution Partner status to deliver existing MSS back-up services, with no impact to customer operations or support. Speedcast will also continue to deliver Inmarsat Land MSS services to its enterprise customers as part of the Company's land portfolio, with enterprise clients and sites unaffected by this agreement.
Inmarsat will take on management of the transitioned Inmarsat Maritime contracts, as well as the 24/7 operations and support for customers through its network operations and customer support centers. Customers will continue to receive the highest quality of service, with the deal including a fully supported handover to ensure a seamless transition.
About Inmarsat
Inmarsat is the world leader in global, mobile satellite communications. It owns and operates the world's most diverse global portfolio of mobile telecommunications satellite networks, and holds a multi-layered, global spectrum portfolio, covering Lband, Ka-band and S-band, enabling unparalleled breadth and diversity in the solutions it provides. Inmarsat's longestablished global distribution network includes not only the world's leading channel partners but also its own strong direct retail capabilities, enabling end to end customer service assurance.
The Company has an unrivalled track record of operating the world's most reliable global mobile satellite telecommunications networks, sustaining business and mission critical safety & operational applications for more than 40 years. It is also a major driving force behind technological innovation in mobile satellite communications, sustaining its leadership through a substantial investment and a powerful network of technology and manufacturing partners.
Inmarsat operates across a diversified portfolio of sectors with the financial resources to fund its business strategy and holds leading positions in the Maritime, Government, Aviation and Enterprise satcoms markets, operating consistently as a trusted, responsive and high-quality partner to its customers across the globe. For further information, follow us on LinkedIn or on Twitter @InmarsatGlobal.
About Speedcast International Ltd
Speedcast International Ltd (ASX:SDA) is the world's most trusted communications and IT services provider, delivering critical communications solutions to the Maritime, Energy, Mining, Media, Telecom, Cruise, NGO, Government, and Enterprise sectors. With more satellite capacity than any other provider, Speedcast enables faster, seamless pole-to-pole coverage from a global hybrid satellite, fiber, cellular, microwave, MPLS, and IP transport network with direct access to public cloud platforms. The company also integrates differentiated technology offerings that provide smarter ways to communicate and distribute content, manage network and remote operations, protect and secure investments, and improve the crew and guest experience. With a passionate customer focus and a strong safety culture, Speedcast serves more than 3,200 customers in over 140 countries. Learn more at www.speedcast.com.
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