Panasonic to Acquire ITC Global
[Via Satellite 3-16-2015] Panasonic Corporation has announced its acquisition of ITC Global. Under the deal, ITC Global will become “ITC Global, A Panasonic Company” and will operate as an independent unit of Panasonic Avionics. ITC Global will continue to execute its current strategic plan under the leadership of Joe Spytek, ITC Global’s founder and CEO, who will report to Paul Margis, president and CEO of Panasonic Avionics.
ITC Global’s management team will remain in place and will continue to focus on its customers in the energy, mining, and maritime markets, while Panasonic Avionics will remain dedicated to its customers in the aviation market.
“Panasonic’s acquisition of ITC Global highlights the natural alignment of customers across the aviation, energy, mining and maritime markets, all of whom require mobile broadband, high reliability, global coverage and responsive customer service,” said Margis.