SYDNEY, October 30, 2020 – Following a two-year partnership, which has delivered NBN Co’s Business Satellite Services (BSS) to businesses across Australia, Speedcast International Limited (ASX:SDA) has today announced it has sold selected functions of its wholly-owned subsidiary and dedicated entity, Speedcast Managed Services, to Australian government-owned infrastructure provider, NBN Co.
Speedcast Managed Services helped build and operate the Business Satellite Service on NBN Co’s satellite network. This included the design, integration and commissioning of the new network on NBN high throughput satellite (HTS) systems, with more than 50 beams and a comprehensive terrestrial infrastructure capable of providing a range of high-data internet service offerings.
The network design included the development of unique operations support system (OSS) and business support system (BSS) environments. This network went live on 30 Sept 2019 and Speedcast Managed Services has been operating it on behalf of NBN Co.
Under the sale, Speedcast Managed Services employees, assets and equipment now revert to its sole client, NBN Co, to support the ongoing requirements of the National Broadband Network.
Speedcast will continue to work as a Retail Service Provider to deliver NBN Co’s Business Satellite Services (BSS), building on its long-time presence in Australia providing managed connectivity services to enterprise, government, energy and maritime customers.
“We are proud of what our partnership with NBN Co has delivered and look forward to continuing our relationship and providing many more Australian businesses with essential connectivity,” said Joe Spytek, President and Chief Commercial Officer at Speedcast. “This sale provides both parties with considerable benefits, as NBN Co looks to bring delivery and project management of its Business Satellite Service in-house and we work to finalize our recapitalization process. We congratulate NBN Co on their purchase and look forward to continue working together on new initiatives.”
About Speedcast International Limited
Speedcast International Ltd is the largest provider of remote communications and IT services in the world. Speedcast’s fully managed service is delivered via a leading global, multi-access technology, multi-band and multi-orbit network of 70+ satellites and an interconnecting global terrestrial network, bolstered by extensive on-the-ground local support from 40+ countries. This global “network of networks” allows customers to fully rely on the most robust, integrated infrastructure available in the market for their mission critical applications. Speedcast is uniquely positioned as a strategic business partner, tailoring communications, IT and digital solutions to meet unique customer needs and enable business transformation. With a passionate customer focus and a strong safety culture, Speedcast serves more than 2,000 customers in more than 140 countries in sectors such as Maritime, Energy, Mining, Enterprise, Media, Cruise, NGOs and Government. Learn more at www.speedcast.com.