SpeedCast International Ltd. has entered into a definitive agreement to acquire Harris CapRock in a cash transaction valued at $425 million.
Offshore staff
SYDNEY, Australia – SpeedCast International Ltd. has entered into a definitive agreement to acquire fellow satellite communications and network service provider Harris CapRock in a cash transaction valued at $425 million.
SpeedCast says the acquisition strengthens its position in the maritime and energy industries, with the combined entity expected to service more than 6,200vessels, hundreds of rigs and platforms, and enterprise and government customers around the world.
The transaction is expected to be completed by the end of 1Q 2017 subject to customary closing conditions, including anti-trust and regulatory approval.
