Speedcast Signs Intelsat Bandwidth Contract
Speedcast International signed a new bandwidth agreement contract with Intelsat, in which Intelsat’s connectivity infrastructure and services will support Speedcast’s customers.
This agreement comes out of Speedcast’s Chapter 11 proceedings as the company looks to renew relationships with its suppliers. The agreement was approved by the U.S. courts overseeing the financial restructuring cases for both Speedcast and Intelsat. Speedcast filed for Chapter 11 in April, saying that pressures on the oil and gas and maritime industries, and the COVID-19 pandemic led to the decision. Intelsat is also undergoing Chapter 11 restructuring.
Intelsat’s fleet includes more than 50 satellites that operate with the IntelsatOne ground network. Speedcast is partnered with more than 20 satellite operators, including Intelsat, to provide managed network services using C-, Ku-, Ka-, L-, and X-band capacity.
“This new agreement will offer us the flexibility and global scale we need to best support our customers,” said Peter Shaper, CEO of Speedcast. “As we navigate the near-term headwinds stemming from the global COVID-19 pandemic and work toward finalizing our recapitalization process, it is critical that we find opportunities to reassess our overall bandwidth purchasing to better support our network, while also allowing us to help our customers through these unprecedented times. We look forward to expanding our use of the Intelsat network, and further transforming our business.”