ITC Global to acquire NewSat Communications
Satellite communication services firm ITC Global has entered into a definitive agreement to acquire NewSat Communications SA, a privately-held Swiss-based leading provider of satellite communications solutions to the EMEA energy markets.
Both companies focus on providing enterprise grade fully integrated, turnkey satellite communications solutions to blue chip customers around the world.
ITC Global says the combined companies will provide the most seamless coverage, service, and local support available for mining, energy and energy-related customers in the Americas, Africa, Europe, Australia and the Middle East, and will be the largest provider in the mining market and the second largest VSAT company in the energy market. Alexandre De Luca and Roland Loos , current shareholders and Managing Members of NewSat, will continue to manage NewSat's operations and will become senior executives of ITC Global. The transaction is expected to close following customary closing conditions.
"The acquisition of NewSat reflects our deep commitment to the energy market and to providing outstanding service to our global mining and energy customers," said Joseph Spytek , co-founder and Chief Executive Officer of ITC Global.
"The combination of ITC Global and NewSat is a great fit given ITC Global's focus on the Gulf of Mexico and Australian markets and NewSat's focus on Europe, Africa the Middle East and Asia. This acquisition will extend our worldwide offerings through highly skilled quality personnel and engineering talent. I am excited about the opportunities that we see globally in the energy market for VSAT communications, and I am confident that bringing NewSat into the ITC Global family will help us to achieve our goals for global reach in conjunction with unparalleled customer offerings and service tailored to the energy market."
"We are enthusiastic about our combination with ITC Global," said Alexandre De Luca and Roland Loos , Managing Members of NewSat. "We know that combining the businesses will allow us to bring greater scale and investment to the benefit of our customers. We have built a strong base of top-tier energy customers in the EMEA region, and our combination with ITC Global will allow us to offer our customers a broader spectrum of products, services, and support around the globe. We are looking forward to working with the ITC Global family of businesses and are excited about our future together."
ITC Global's announcement of its agreement to acquire NewSat follows the recent completion of its acquisition of Spidersat Communications Limited, an African-based provider of satellite communications services to mining customers in Africa. ITC Global is highly committed to the worldwide mining and energy markets as well as strategic geographies such as Europe and Africa, and continues to strengthen its position as the leading satellite communications provider with unparalleled local presence to serve the mining, energy, and maritime markets across the globe.
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