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TMCNet:  SpeedCast Ltd Completes Buyout of Elektrikom Satellite Services

[January 16, 2013]

SpeedCast Ltd Completes Buyout of Elektrikom Satellite Services

HONG KONG --(Business Wire)--

SpeedCast (News - Alert) Ltd, a leading Hong Kong-based global network and satellite communications service provider, has completed, with the support of its majority shareholder, TA Associates, a buyout of Elektrikom Satellite Services, a leading maritime satellite communications service provider based in the Netherlands. The combination of Elektrikom and SpeedCast's maritime business unit will form one of the top maritime satellite communications service providers in the world.

Elektrikom provides satellite and wireless-based communications solutions to the maritime industry. The Company focuses on the high-end segments of the maritime market, including the oil & gas and offshore supply segments. Founded in 1985, Elektrikom is headquartered in Rotterdam, Netherlands, where it enjoys a strong position in this key maritime shipping hub, and also serves customers and partners throughout Europe.

Elektrikom has established itself as one of the leading maritime satellite service providers in Europe, with a marquee list of customers ranging from major shipping companies to offshore supply companies. Elektrikom is well known for its expertise and ability to deliver custom-engineered communication solutions for its customers, including various types of satellite communications, such as Ku-band & C-band VSAT services and L-band services, as well as wireless technologies and a range of IT services.

"SpeedCast is well established as the leading provider of maritime communication solutions in Asia. While our services are global, we wanted to strengthen our presence in Europe to further support our partners in this key region. With its strong position in the most important European shipping hub, Elektrikom is an ideal fit," said Pierre-Jean Beylier, CEO, SpeedCast. "With the acquisition of Elektrikom, we are well positioned to deliver a higher level f service and support to SpeedCast and Elektrikom customers' vessels in Europe and worldwide."

Joining the SpeedCast Group, Elektrikom will be able to offer its maritime customers a wider portfolio of products and services, including land-based services, and to better serve its global customers' needs in Asia. Elektrikom will also benefit from SpeedCast's broad range of engineering capabilities worldwide, with certified field engineers able to support maritime services and antennas onboard vessels and platforms. These extensive support resources are strategically located in Hong Kong, Singapore, Indonesia, Malaysia, China, Dubai, and Australia, in addition to Elektrikom's own presence in the Netherlands.

SpeedCast will leverage Elektrikom's strength in Europe, with its strategic Rotterdam base, to further penetrate the important European market, as well as deliver continuity of experience for Elektrikom's existing customers. Elektrikom's worldwide satellite communications infrastructure will complement SpeedCast's existing global network, adding an overlay network which will provide redundancy and backup, as well as introducing new options for SpeedCast's global customer base.

"The acquisition of Elektrikom by SpeedCast is a very positive development for our customers, our partners and our employees," said André Eerland, Managing Director, Elektrikom. "There are significant synergies between the two companies, with two leading technology platforms, iDirect (News - Alert) and Comtech EF Data, and worldwide coverage, which will greatly enhance our ability to deliver customized solutions to meet our customers' needs." Mr. Eerland will remain with the merged entity and will serve as Head of Maritime globally.

This acquisition follows shortly after SpeedCast's acquisition of Australian Satellite Communications ("ASC (News - Alert)"), a leading satellite communications service provider in Australia. ASC is very active in serving customers in the natural resource market, in particular the oil & gas industry, which complements Elektrikom's position serving the oil & gas and offshore industries in Europe.

About SpeedCast Ltd

SpeedCast Ltd is a leading global network and satellite communications service provider offering high-quality managed networks services in over 30 countries throughout Asia, the Middle East and Africa. With 10 international sales & support offices and 18 teleport operations, SpeedCast boasts a unique infrastructure to serve corporate and carriers' requirements globally. SpeedCast has distinguished itself with a strong operational expertise and a highly efficient support organization, which are the foundation of SpeedCast's success. For more information, visit www.speedcast.com.

About Elektrikom Satellite Services

Elektrikom was founded in 1985 when it started selling wireless communication to the marine industry. Elektrikom now operates 6 teleports and supplies network services to more than 250 vessels in the high-end sectors (oil & gas, offshore, etc.). Elektrikom has locations worldwide, with support offices in Manila and Lagos and its headquarters in Rotterdam, Netherlands. For more information, visit www.vsat.nl.


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