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SpeedCast acquires Harris CapRock

Australia-based SpeedCast International, a leading global satellite communications and network service provider, announced it has entered into a definitive agreement to acquire Harris CapRock of the US in a cash transaction valued at $425m. 

The acquisition strengthens SpeedCast’s already strong position in the maritime industry, in which Houston-based Harris CapRock has a leading position in the fast-growing and bandwidth-hungry cruise sector, and creates a new global leader in energy.

SpeedCast already has strong record in providing marine customers in the Middle East region with robust and reliable communication networks. It recently secured the contract to supply Fleet Broadband to all for Gulf Marine Services barges, and recently completed installation of the 12th VSAT system on board their barges.

The Harris CapRock deal is the latest of a flurry of recent initiatives by a company in full expansion mode. In August it had announced the acquisition of WINS Limited (WINS), a leading Europe-based provider of innovative broadband satellite communications and IT solutions for the maritime sector. And only last week it announced a global teaming up with Ericsson to become satellite connectivity solution provider partner for the telecommunications giant.

As regards its expanding portfolio of maritime satellite services, SpeedCast in June inked a deal with Inmarsat to become global supplier of Fleet Xpress.

Last month it launched a new maritime email communication solution called SpeedMail+, based on GTMaritime’s flagship new maritime email platform. SpeedMail+ combines SpeedCast’s global VSAT and L-Band network with the full suite of GTMaritime’s services, including email, file transfer and anti-virus applications, developed for today’s communication requirements of the maritime sector.

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