Eutelsat sells 70% stake in Wins Limited to SpeedCast

Eutelsat has agreed to sell its 70% stake in Wins Limited – a provider of broadband satellite communications and IT solutions for the maritime sector – to SpeedCast for roughly €60 million.

Satellite communications and network service provider, Speedcast, said that Wins’ strong position in Europe will allow it to grow its business rapidly in the maritime space.

Eutelsat said that selling Wins, which is held through its wholly-owned Skylogic subsidiary, is part of its strategy to streamline its asset portfolio to maximise free-cash-flow generation.

“This acquisition is further affirmation of SpeedCast’s growth strategies, and is a significant milestone for us. Wins brings a strong local presence in Germany, a major maritime market, as well as expertise in the cruise industry in Europe, a fast growing user of satellite communications,” said SpeedCast CEO, Pierre-Jean Beylier.

“Together,we are well poised to expand our network to support the growing demand of VSAT services in the maritime sector.”

Wins CEO, Tony Mejlaq, said that joining Speedcast will give Wins access to new markets and the ability to deliver new service capabilities to its customers.

“Our customers will benefit from the enhanced customer service network and world class infrastructure,” he said.

Wins provides maritime connectivity services to passenger vessels in the Mediterranean region. Through its German subsidiary DH-Intercom it also provides L-band connectivity and VSAT solutions to merchant vessels.

In total the company provides services to more than 100 passenger-carrying ships, such as cruise liners and ferries, and to more than 2,000 merchant shipping vessels.