Speedcast International Limited (ASX: SDA), the world's most trusted provider of remote communication and IT solutions, has signed a partnership agreement with India's fastest growing VSAT service provider Nelco Limited, a Tata Enterprise, to offer seamless global communications while at sea in Indian waters. This is the first partnership of its kind where vessels of either company will be able to connect to the Ku-band networks of both companies seamlessly in and out of Indian waters. In this partnership, Nelco will also extend to its customers Speedcast's industry-leading products and services, which include cybersecurity, crew welfare, content solutions, and data and voice applications.
Until today, when vessels entered Indian territory, they were required to shut down their VSAT connection. Under the new partnership agreement, customers of either company can roam into each other's respective territories of coverage and maintain uninterrupted communications while at sea.
"In this partnership with Nelco we are able to open up the Indian market to drive new growth for both Speedcast and Nelco, as well as deliver the best possible customer experience," said Speedcast CEO Pierre-Jean Beylier. "We are proud to be offering a unique proposition to thousands of vessels sailing in and out of Indian waters every year and we look forward to a long and mutually beneficial relationship between Speedcast and Nelco."
"In this day and age, ship managers and owners want a broadband maritime service on board their ships that is truly global and reliable," said Nelco MD & CEO P J Nath. "In our endeavor to offer a seamless global service to our customers, we have partnered with Speedcast, the world's largest and most robust network service provider. This partnership provides us the opportunity to increase our presence in the maritime industry and paves the way to provide even greater value to our customers with a complete communications service portfolio that includes hardware, applications and services."
Under this agreement, Speedcast will integrate with the Nelco network to allow either parties' customers to maintain connection while roaming between the different satellite coverage beams and teleports. With an integrated network, the service achieves global IP access for remote terminals and optimizes the global connectivity experience for our customers.
Shares of NELCO LTD. was last trading in BSE at Rs.291.9 as compared to the previous close of Rs. 287.3. The total number of shares traded during the day was 18382 in over 458 trades.
The stock hit an intraday high of Rs. 294.6 and intraday low of 288. The net turnover during the day was Rs. 5375812.