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[Satellite TODAY 09-15-09] Citi Venture Capital has invested $25 million in SkyVision Holdings Ltd., a provider of global IP services over satellite and terrestrial fiber optic systems for enterprise, ISP and carrier-class customers in Africa’s emerging markets, SkyVision announced Sept. 14.
Investment firms Cyphertech and Shamrock, which will each hold approximately 30 percent of the investment, control SkyVision. Citi will hold approximately 23 percent, and SkyVision’s management and employees will hold the remainder.
SkyVision has coverage over 120 countries and currently operates in more than 50 countries around the world with sales in 2009 estimated to exceed $80 million. The company has achieved growth rates of approximately 50 percent per-year over the past five years.
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