SpeedCast International, a leading global satellite communications and network service provider, has entered into a definitive agreement to acquire Harris CapRock in a cash transaction valued at US$425 million. Harris CapRock is a global leader in the Energy and Maritime segments.
The acquisition strengthens SpeedCast’s already strong position in the Maritime industry, in which Harris CapRock has a leading position in the fast-growing and bandwidth-hungry Cruise sector, and creates a global leader in Energy, positioning the company for future growth.
SpeedCast said the combined entity will service over 6200 vessels, hundreds of rigs and platforms, and enterprise and government customers around the world with a wide portfolio of communications and IT services, and an industry-leading global support network. This expanded global footprint and infrastructure, with over 240 field engineers around the world, will enable SpeedCast to provide best-in-class services and support to our customers in over 100 countries.
Recently, Ericsson has selected SpeedCast to be the company’s satellite connectivity solution partner for the global maritime industry to expand its end-to-end service solutions for shipping, ports and terminal customers.
Pierre-Jean Beylier, SpeedCast CEO
The acquisition of Harris CapRock is a transformational opportunity for SpeedCast. With this acquisition SpeedCast becomes the global leader in the industry, with a scale that enables us to deliver world-class services and support in over 100 countries.
