SDA Completes Acquisition of WINS Limited
London, Sep 2, 2016 AEST (ABN Newswire) - SpeedCast International Ltd (
ASX:SDA) ("SpeedCast" or the "Group"), a leading global satellite communications and network service provider, today announced the completion of the acquisition of WINS Limited ("WINS") in accordance with the terms of the Share Purchase Agreement signed on 8 August 2016. WINS, which was owned by Eutelsat Communications (EPA:ETL) and Maltasat, was acquired for all-cash consideration of EUR 60.0 million (USD 66.9 million)[1]. The consideration was funded by available cash following the recently completed AUD 61.2 million (USD46.5 million)[2] equity placement and via the Group's committed debt facilities.
Further details of the acquisition were included in the ASX announcements made on 8 August 2016.
[1] Based on EUR:USD of 1.115. Excludes transactions costs of approximately USD1.9 million (including debt refinancing costs and equity raising costs)
[2] Based on completion of First Placement Tranche and AUD:USD of 0.76. See ASX Announcement 9 August 2016
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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