TA Associates Completes Buyout of SpeedCast
TA Associates announced it has, with the support of SpeedCas’s management team, completed a buyout of SpeedCast Ltd, a global network and satellite communications service provider, from Asia Satellite Telecommunications Co. Ltd. (AsiaSat).
SpeedCast provides very small aperture terminal (VSAT) satellite-based broadband access services, managed networking solutions and value-added services in more than 30 countries primarily in Asia, the Middle East and Africa. SpeedCast’s customers include telecom carriers, Internet service providers, governments and non-governmental organizations, and other enterprises requiring communication services in locations where wire-based communication is not possible or practical, or where mobility is required. Through its SeaCast offering, the company serves the broadband needs of the maritime and offshore oil and gas industries. The company utilizes 16 teleports (satellite ground stations) across the globe and more than 20 VSAT hubs, and operates eight sales and support centers. Founded in 1999, SpeedCast is headquartered in Hong Kong, with offices in Beijing, Singapore, Dubai and Kuala Lumpur.
“As a profitable and rapidly growing company, SpeedCast ideally fits TA’s investment profile,” said Edward F. Sippel, managing principal