ITC Global to deepen African presence
BUSINESS| Aug. 30, 2012, 8:52 a.m.
ITC Global, a leading global provider of enterprise grade satellite communication services to mining, energy and maritime businesses, announced today that it has entered into a definitive agreement to acquire privately-held Spidersat Communications Limited, an integrator of global communications solutions focused on providing mission critical satellite-based communication services for mining, exploration, and mining services companies operating in Africa.
The combined companies promise to provide the most seamless coverage, service, and local support available in Africa for mining and mining-related customers.
The transaction is expected to close in the next 30 days.
"Spidersat is an outstanding addition to our business," said Joseph Spytek, co-founder and Chief Executive Officer of ITC Global. "Spidersat will advance ITC Global's position in Africa, and offers us a highly complementary suite of services and resources for enterprise clients throughout Africa. We are happy to have the Spidersat team join the ITC Global family, and together we will continue to provide premier, custom communications solutions to the mining and oil and gas industries across Africa.
The acquisition of Spidersat comes just months after a significant investment in the Company by Riverside Partners, a Boston-based private equity firm, and is part of our global growth strategy. Since the investment by Riverside Partners in January 2012, we have expanded our mining and energy businesses into Canada and the UK as well as entered into a long-term strategic partnership in the maritime business with Imtech Marine."
"We are proud to be aligned with ITC Global," said Mike Hennessey, Managing Director of Spidersat. "Our key markets such as Burkina Faso, Liberia and the DRC will be highly additive to ITC Global's already strong Africa footprint, and our local approach to satellite communications will be strengthened under the ITC Global umbrella. I have great respect for Joe and his worldwide team, and we are excited to be part of the next stage of growth."
Spidersat is a leading corporate communications provider in Africa, and provides custom networks and bandwidth access to enterprise customers throughout Africa. Spidersat is headquartered in Tanzania and has additional offices, accredited engineering, and support personnel in Ghana and Western Australia. Spidersat offers a broad range of services on the African continent, including fixed VSAT solutions and mobile satellite solutions, and has many years of experience of deploying reliable communication solutions within some of the most remote areas of Africa.
ITC Global's announcement of its intent to acquire Spidersat follows the recent completion of its acquisition of the remaining interest in ITC Guinee SARL, bringing ITC Global's ownership to 100% of ITC Guinee SARL. ITC Global is highly committed to Africa, and continues to strengthen its position as the leading satellite communications provider with unparalleled local presence to serve the mining and broader resources industries throughout Africa.
MORE BUSINESS NEWS
Beachhead Solutions introduces channel programme for emerging marketsBeachhead's high-ROI reseller programme is now available in MEA and India. Read More
Barclays Africa launches RiseA new global start-up community has been launched to pioneer financial services and unlock Africa’s potential. Read More
JUA Energy enters Nigeria after success in KenyaAfter successfully entering the Kenyan market in April 2014, solar-powered systems and technological electronic accessories manufacturer brand JUA energy has launched in Nigeria to sell through e-tailer Jumia. Read More
Fundamo founder joins Nomanini’s advisory boardFundamo founder Hannes Van Rensburg, generally considered the father of mobile payments, has joined the advisory board of Nomanini, a South African-based, enterprise technology transactions platform provider. Read More
Airtel sponsors Indo-Africa ICT Expo 2015Airtel is sponsoring the Indo-Africa ICT Expo 2015 being held at the Kenyatta International Conference Centre (KICC) now underway in Nairobi. Read More
MTN acquires Smart Village to enhance its foothold in the fibre network spaceMTN has concluded a deal with MultiChoice to acquire Smart Village, which will accelerate the mobile operator’s fibre to the home (FTTH) strategy to be the provider of choice for high speed fibre network across South Africa. Read More
Agilitude opens East African office on the back of mobility and cloud growthSalesforce reseller and Consulting Partner Agilitude has announced that is has opened an office in Kenya, making East Africa its next target for growth. Read More
MTN gets ethics management committeeMTN Nigeria has set up an ethics management committee with the sole responsibility of managing ethics risks. Read More
200 entrepreneurs to launch innovative businessesOver 200 entrepreneurs from across Africa are set to receive resources, networking opportunities and mentorship from Microsoft 4Afrika and AMPION. Read More
FEATURED STORYConnectivity critical for Nigeria's ICT sector, says SES chief
Connectivity is vital for any country to fully optimise the huge potential of cyberspace, SES Sales Manager for West Africa Joy Nma Emenike tells Kokumo Goodie.
BEST READ NEWS
IN DEPTHHigh tech homes: Just press play
High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.
COMPANY NEWSLuba Freeport streamlines its sea of paper with Sage X3
Luba Freeport has implemented the Finance and Distribution modules of the Sage X3 business management solution to automate its business processes across finance and operations.