Maritime Telecommunications Network (MTN) said merchant bank and private equity fund management company Perseus LLC completed its acquisition of MTN. Financial terms of the deal were not disclosed.

“[Throughout] the past two years, we have enjoyed a strong and mutually beneficial relationship with David Moross and his colleagues at Falconhead Capital and I look forward to maintaining an equally strong and equally beneficial relationship with our new partners at Perseus,” David Kagan, CEO of MTN said in a prepared statement. “We particularly look forward to leveraging Perseus’ experience and relationships to grow our business in our core cruise and offshore oil and gas industries while continuing to serve our customers.”