Goodwin’s M&A team advised Speedcast International in its definitive agreement to acquire UltiSat for a purchase consideration of up to $100 million, payable over two years and subject to the ongoing financial performance of the company. The transaction is expected to complete in the fourth quarter of 2017 subject to customary closing conditions, including regulatory approvals.
The acquisition strengthens Speedcast’s position in the government and nongovernmental organization sectors, complementing Speedcast’s government activities in Australia, Asia, Europe and Latin America. UltiSat CEO Mohammed G. Abutaleb will lead the newly formed government division at Speedcast that will be focused on providing communication solutions and professional services to Speedcast’s and UltiSat’s existing and new government and international government organization customers, as well as driving new growth in the nearly $5 billion market for government and military satellite communications.
Speedcast International is the world’s most trusted provider of highly reliable, fully managed, end-to-end remote communication and IT solutions. The company utilizes an extensive worldwide footprint of local support, infrastructure and coverage to design, integrate, secure and optimize networks tailored to customer needs.
The Goodwin team was led by Hong Kong partner Yash Rana and included partners Christopher Dwyer, Albert Solecki, Jeffrey Klein, Daniel Karelitz and Richard Matheny.
For additional details on the transaction, please read the press release.
The acquisition strengthens Speedcast’s position in the government and nongovernmental organization sectors, complementing Speedcast’s government activities in Australia, Asia, Europe and Latin America. UltiSat CEO Mohammed G. Abutaleb will lead the newly formed government division at Speedcast that will be focused on providing communication solutions and professional services to Speedcast’s and UltiSat’s existing and new government and international government organization customers, as well as driving new growth in the nearly $5 billion market for government and military satellite communications.
Speedcast International is the world’s most trusted provider of highly reliable, fully managed, end-to-end remote communication and IT solutions. The company utilizes an extensive worldwide footprint of local support, infrastructure and coverage to design, integrate, secure and optimize networks tailored to customer needs.
The Goodwin team was led by Hong Kong partner Yash Rana and included partners Christopher Dwyer, Albert Solecki, Jeffrey Klein, Daniel Karelitz and Richard Matheny.
For additional details on the transaction, please read the press release.