Corrs advises on $560m communications acquisition

by |
Corrs Chambers Westgarth advised SpeedCast International Limited in acquiring Harris CapRock from Harris Corporation.
SpeedCast International Limited (ASX Code: SDA) (SpeedCast)will acquire Harris CapRock for US$425 ($560 million).
The Corrs team was led by Partner Thomas Jones and supported by Special Counsel Jennifer Dean.
SpeedCast expects the acquisition to expand its product offering to a more global customer base, increase its business offerings in the maritime and energy sectors and generate significant operational and economic benefits of scale.
Corrs acted as the lead advisor on telecommunications regulatory issues globally and co-ordinated advice from local counsel and lead transaction advisors, Goodwin Procter LLP.
The Goodwin team advising SpeedCast was led by partner Yash Rana and counsel Benton Bodamer and included partners Daniel Karelitz, Milena Tantcheva, Richard Matheny, Albert Solecki and Scott Webster and counsel Todd Hahn.
SpeedCast is a global satellite communications and network service provider, offering managed network services in over 90 countries and a global maritime network serving customers worldwide. With a worldwide network of 43 sales and support offices and 39 teleport operations, SpeedCast has a unique infrastructure to serve the requirements of customers globally.
Harris is a technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports customers in more than 100 countries and has approximately US$7.5 billion in annual revenue and 21,000 employees worldwide. The company is organized into four business segments: Communication Systems, Space and Intelligence Systems, Electronic Systems and Critical Networks.

Related stories:
Global firm advises on major maritime financing
Law firms involved in the $47bn acquisition of NXP by Qualcomm