Speedcast Secures Contract Valued at Up to AU$184 Million with NBN Co Australia
Ten-Year Contract Will Accelerate Speedcast’s Revenue in Australia and Create New Jobs
SYDNEY, Feb. 5, 2018 – Speedcast International Limited (ASX: SDA), the world’s most trusted provider of remote communication and IT solutions, today announced it has secured a 10-year contract with Australian government-owned infrastructure provider NBN Co to deliver enterprise-grade satellite services. Speedcast’s wholly-owned subsidiary and dedicated entity, Speedcast Managed Services, will partner with NBN Co to design, build and manage NBN Co’s enterprise satellite services. The value of the base network build and managed services project is AU$107 million and with other demand-driven services the aggregate revenue is expected to be up to AU$184 million in total.
This new contract will be a transformational project for Speedcast in Australia. Speedcast will leverage its experience as Australia’s largest provider of enterprise-grade satellite services to build and operate, in support of NBN Co, a unique suite of satellite services targeted at enterprise and government customers in Australia. In order to deliver on its mission, Speedcast will set up a new office with world class specialists in Melbourne to support NBN Co. The services provided by Speedcast will complement NBN Co’s consumer satellite service and will serve to increase the availability of enterprise-grade cost-effective communications solutions for Australian businesses.
“We are honored and grateful to have been chosen for such an important program and we are excited to play a part in expanding the communication services available in Australia. This contract is another huge success for Speedcast in our efforts to provide next-generation communications solutions to our clients and partners around the world,” said Pierre-Jean Beylier, CEO, Speedcast. “I thank NBN Co for their trust in Speedcast’s ability to deliver reliable communications services enabling mission-critical applications that enterprise and government customers rely on; something we are passionate about and have been doing very successfully in Australia for many years as well as in over 100 countries around the world.”
As the largest provider of satellite communication services to enterprises in Australia and globally, Speedcast boasts a range of services, technical capabilities and service levels that are second to none in the industry. The innovative solutions and ideas that Speedcast brings will help NBN Co support its mission and provide enterprise customers in Australia with an industry-leading connectivity service.
The time required to finalise this material contract means that the contribution previously forecasted to be recognised in 2017 will now be realised in 2018.