ITC Global Purchases Remaining Stake in African VSAT Business
[Satellite TODAY 08-21-12] Maritime enterprise satellite communications provider ITC Global has acquired the remaining 10 percent interest in VSAT specialist ITC Guinea to obtain complete ownership of the entity, the companies announced Aug. 20.
ITC Global said it would leverage ITC Guinea SARL to provide comprehensive networking solutions on a global basis, focusing primarily on Africa-based client sites.
“Increasing ownership in one of our key markets is a core strategic objective for ITC Global,” ITC Global Co-Founder and CEO Joseph Spytek said in a statement. “We have invested in Africa for many years, and will continue to serve our clients in Africa and globally with the outstanding service that ITC Global is known for. We will continue to increase our investment in Africa in the near-term. This transaction solidifies our strong position in the attractive African market.”
ITC Guinea launched its operations in 2005, which will continue to provide VSAT services and support following the transaction. Spytek said the location would remain a critical location in the company’s geographic footprint.