TA Associates and the management team completed the buyout of SpeedCast Ltd, a Hong Kong-based global network and satellite communications service provider, from Asia Satellite Telecommunications Co. Ltd.
The company intends to use the proceeds from the investment – whose amount was not disclosed – to grow organically and through acquisitions. Pierre-Jean Beylier, CEO, will continue as CEO of the business.
In conjunction with the transaction, TA Associates Managing Principal Asia Pacific Edward F. Sippel, and Managing Director Michael S. Berk, will join SpeedCast’s Board of Directors.
Founded in 1999, SpeedCast provides very small aperture terminal (VSAT) satellite-based broadband access services, managed networking solutions and value-added services in more than 30 countries primarily in Asia, the Middle East and Africa.
Customers include telecom carriers, Internet service providers, governments and non-governmental organizations, and other enterprises requiring communication services in locations where wire-based communication is not possible or practical, or where mobility is required.
The company has offices in Beijing, Singapore, Dubai and Kuala Lumpur.