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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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.