Queensland-headquartered fixed and mobile satellite solutions provider, SatComms Australia, has been bought out by international satellite services provider, SpeedCast.
The two satellite communications players jointly announced the acquisition this week, saying that the closure of the deal was still subject to regulatory approval.
The deal sees the Hong Kong-headquartered SpeedCast wholly acquire SatComms Australia.
Although the companies are remaining tight-lipped on the value of the acquisition, the local company's executive team and employees will be staying on throughout the transition and into the near future, according to Andrew Burdall, SatComms CEO.
"We'll be continuing to run the day-to-day operations as we had previously," Burdall told ZDNet. "We think we'll end up in a better situation following the acquisition; there'll be a lot of additional services that we can plug our customers into."
For Burdall, the deal will enable his company to accelerate its abilities and augment its product offering, while providing leverage to expand beyond the Australian and Asia-Pacific markets.
"With SpeedCast's experience and infrastructure, we believe that SatComms will have the opportunity to drive further growth and advance our commitment to providing our customers with reliable and efficient solutions," he said.
According to Burdell, the acquisition had been in the works for about three months prior to this week's announcement, with the two companies already having worked together in partnership previously.
For SpeedCast, which operates managed networks in over 60 countries, the acquisition is expected to see its current L-band mobile offering augmented by SatComm's existing mobile satellite services footprint.
The company said that SatComms' presence in Queensland will enhance its ability to support customers in that state, along with Western Australia — both areas rich in resources sector operators.
The acquisition follows the opening of SpeedCast's new office in Perth in February, highlighting the company's interest in the WA market.
"With the SatComms acquisition, SpeedCast expands it presence and its commitment to the Australian market, and marks our third acquisition in Australia in just 18 months," said Pierre-Jean Beylier, CEO of SpeedCast.
"SatComms uniquely complements SpeedCast’s leadership in the VSAT market with great strength in mobile satellite services, extensive teleport infrastructure in Western Australia, and a sales and engineering presence in Queensland.
"There are significant synergies between the two companies, which will further enhance our ability to deliver customized turnkey solutions to our customers in Australia and beyond."
The acquisition comes as SpeedCast also announces the appointment of former iiNet CEO, Michael Malone, as a new independent director of the company. Malone was a founder of iiNet and was responsible for its development since 1993, including more than 40 acquisitions over two decades.