Speedcast Announces CFIUS Approval for Globecomm Acquisition
London, Dec 6, 2018 AEST (ABN Newswire) - Speedcast International Limited (
ASX:SDA) (7SC:FRA) (SPPDF:OTCMKTS), the world's most trusted provider of remote communication and IT solutions, announced today that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of the company's previously announced transaction with Globecomm Systems Inc.
Based upon its review, CFIUS has determined that there are no unresolved national security concerns with respect to the acquisition. Speedcast expects to complete the transaction in December 2018, subject to customary closing conditions. Speedcast will issue a further announcement when completion of the acquisition and associated financing occurs.
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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