Speedcast accelerates its strategy to AI-enabled Edge Intelligence with completed sale of teleport infrastructure business to SatPort Infrastructure
Speedcast has completed the sale of its teleport infrastructure business to SatPort Infrastructure, a leading carrier-neutral ground infrastructure platform provider backed by EQT Infrastructure, part of global investment firm EQT, accelerating Speedcast’s transformation from connectivity provider to AI-enabled network and edge intelligence company.
This transaction streamlines Speedcast’s operations through a more asset-light model, giving the business added flexibility to respond to customer needs while sharpening the company’s strategic focus and prioritization of resources toward its core objectives, including development and enhancements of its SIGMA intelligent edge network management platform. With LEO constellations and edge computing opening new possibilities for remote operations, demand is growing to pair LEO services with SIGMA as a fully managed, future-proof connectivity solution. SIGMA is built to keep pace, enabling streamlined rollouts to tens of thousands of edge devices and automation at scale.
“The completion of this transaction positions Speedcast to continue to benefit from reliable, world-class ground infrastructure, while allowing us to focus on delivering our core connectivity services and innovating for customers through development of our SIGMA intelligent edge platform, which will be integral to remote operations as digitalization trends surge and operators race to put AI at the edge,” said Ross Rosenberg, Chief Executive Officer at Speedcast. “SIGMA helps customers turn remote operational data into actionable insights and enables us to expand our position as a leading connectivity and edge intelligence partner in an industry being reshaped by low Earth orbit satellite constellations.”
The transaction includes 12 industry-leading teleport facilities located across 11 countries and five continents, along with terrestrial infrastructure and the experienced teams that operate them. Under SatPort’s ownership, the teleport assets will continue to support Speedcast’s managed connectivity solutions operations that the company delivers to customers under a new long-term, ground infrastructure-as-a-service agreement between Speedcast and SatPort.
“This acquisition is a major step in SatPort’s journey toward building the world’s leading carrier-neutral ground infrastructure platform, purpose-built to support the next generation of satellite operators,” said Joe Spytek, Chief Executive Officer of SatPort. “Teleport services play an increasingly important role in the global telecommunications ecosystem, especially with the development of satellite constellations in non-geostationary orbit, which require increased infrastructure on the ground to support the constellation.”
Speedcast’s core connectivity and managed services business continues to operate under private equity ownership by Centerbridge Partners, L.P., which acquired the company in March 2021.
Guggenheim Securities served as financial advisor to Speedcast and Kirkland & Ellis served as legal advisor. Deutsche Bank served as financial advisor to EQT Infrastructure, and Paul, Weiss, Rifkind, Wharton & Garrison served as legal advisor.
