Speedcast says Globecomm purchase points the way to $1B revenue goal in three years

by Peter B. de Selding

PARIS— Satellite services provider Speedcast, keeping to its 15-year average of one acquisition a year, said its purchase of Globecomm reduces Speedcast’s exposure to the still-slumping energy markets, increases its government portfolio and puts it on track to reach $1 billion in revenue in three years.

Speedcast said the purchase, for $135 million net of proceeds from the $20 million sale and leaseback of Globecomm’s Hauppauge, New York, data center, will generate $15 million in annual synergies by mid-2020 while adding $16 million in EBITDA and $156 million . . .

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