Speedcast and Inmarsat reached an agreement on the sale of Speedcast’s primary Fleet Xpress, Fleet Broadband and Fleet One service contracts, London-based Inmarsat said in a press release.
“The agreement marks another significant step for Speedcast as it looks to emerge from its Chapter 11 proceedings announced earlier this year, and is subject to approval by the U.S. courts overseeing the company’s financial restructuring,” Inmarsat said.
“Through the agreement, the Speedcast customers that are transferred to Inmarsat will be assured of continuing access to Inmarsat’s market-leading connectivity services. The agreement covers both Speedcast’s L-band maritime contracts in which Inmarsat serves as the primary connectivity onboard, as well as the full Inmarsat Fleet Xpress portfolio from Speedcast.”
The Sydney-based operator Speedcast will continue to serve maritime clients with non-Inmarsat mobile satellite services on board, the company added. It will also continue to deliver back-up services to Inmarsat and land services to enterprises.