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CFIUS Filing Clearance: Speedcast International Limited and Globecomm Systems

Status:  Clearance

Acquirer:  Speedcast International Limited (Australia)

Acquired:  Globecomm Systems Inc. (US)

Value:  Approx. US$135 million

Industry:  Telecommunications


On August 28, 2018, Speedcast International Limited, an Australian company that provides “remote communication and IT solutions,” announced that it “entered into a definitive agreement to acquire Globecomm Systems Inc.  (“Globecomm”) from affiliates of HPS Investment Partners, LLC, Tennenbaum Capital Partners, LLC and certain other members of Globecomm for an estimated net purchase consideration of US$135 million” (Press Release, Speedcast international Limited, Aug. 28, 2018). “Globecomm is a leading provider of remote communications and multi-network infrastructure to Government, Maritime, and Enterprise sectors in over 100 countries.” (Id.)  On December 6, 2018, Speedcast International Limited “announced today that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of the company’s previously announced transaction with Globecomm Systems Inc. Based upon its review, CFIUS has determined that there are no unresolved national security concerns with respect to the acquisition.” (Press Release, Speedcast international Limited, Dec 6, 2018.)

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