Private equity firm
TA Associates bought out SpeedCast Ltd. from Asia Satellite
Telecommunications Co. Ltd. (AsiaSat.) TA enjoyed the full backing of
SpeedCast’s management team during its acquisition of the VSAT
service provider.
Companies from more
than 30 countries in Africa, Asia, and the Middle East turn to
SpeedCast for VSAT satellite broadband access services, managed
networking solutions, and value-added services. SpeedCast also serves
the maritime and offshore oil and gas industries through its SeaCast
broadband service.
Sixteen
teleports
and more than 20 VSAT hubs ensure reliable coverage and connectivity
for SpeedCast's customers wherever they may be on the planet. The
satellite communications company also operates eight sales and
support centers.
Industry analyst
Comsys predicts that VSAT service revenues in Asia, the Middle East
and Africa will grow at an 8 percent compound annual growth rate
(CAGR) over the next five years. Western markets, meanwhile, are
expected to experience a growth rate of 4%.
In particular, the
global maritime VSAT market is enjoying strong and steady growth.
According to the Comsys report, worldwide maritime VSAT service
revenues increased to $800 million in 2009, compared to $400 million
back in 2004.
In addition to
SpeedCast, TA Associates has acquired seven other investments in
Asia. These investments have been both minority investments and
buyouts in growth companies in telecommunications, technology,
healthcare, and mining services. Five investments came from India
while the two other companies, Forgame Tech Co. and Aicent, operate
in China.
