The Speedcast International Ltd (ASX: SDA) share price went up 7.5% today and was one of the biggest climbers.
Speedcast International is a satellite services company with operations stretching from Brisbane around to Perth. Ships, mining companies, Government groups and other parties can use their services for communication.
Why The Speedcast Share Price Went Up 7.5%
The remote data provider is supposedly a takeover target according to the Australian Financial Review’s Street Talk.
Worldwide demand for data continues to grow, particularly from clients like cruise ships. That’s one of the reasons why Speedcast’s 80-satellite network and around 40 teleports look so attractive to private equity.
At the moment there are no formal bids according to the reporting, but there is “early interest”. Apparently one interested party is doing some numbers on Speedcast and is considering its funding options.
Perhaps the article in the media is a fishing exercise to see if it can whip up any more interest.
Is Speedcast A Buy?
I wouldn’t make any investment news based on pure speculation, but I would rather own the growth shares revealed in the free report
below over Speedcast for my portfolio at the current prices.
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