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
Yudala ‘an unstoppable movement’, says Zinox chiefThe opening of Yudala outlets, combining an online shopping platform with retail stores, has been described as a game-changer in Nigeria. Read More
Travelport, TTS sign reseller agreement for Africa, Middle East and Asia Pacific regionTravelport and TTS have signed a sales and distribution agreement for TTS products in the Africa, Middle East, and Asia Pacific regions. Read More
Airbnb to expand further across AfricaAirbnb, the world’s leading community-driven hospitality company, announced that its CEO, Brian Chesky will attend GES 2015 to meet with entrepreneurs from around the world and explore the sharing economy’s impact and expansion, particularly on the African continent - which represents a huge opportunity for the company. Read More
What African entrepreneurs wantOn the eve of U.S. President Barack Obama’s visit to Kenya for the Global Entrepreneurship Summit, GeoPoll, the Global Entrepreneurship Network, and the U.S. State Department have released a survey of 1,000 business owners throughout sub-Saharan Africa on entrepreneurship in their countries. Read More
ISON eyes 25,000 jobs, $400m in NigeriaISON Group has projected the creation of 25,000 new jobs and $400 million revenue within space of one or two years in Nigeria. Read More
NEC invests in XON to accelerate regional African growthNEC Europe, a wholly owned subsidiary of NEC Corporation, has invested in XON, the sub-Sahara African ICT group, and the two organisations will have an integrated market approach that will combine their local expertise in the region to provide greater sales coverage in the sub-Sahara African market. Read More
Orange, Airtel in talks on acquisitionsOrange and Bharti Airtel International (Netherlands) BV, have entered into an exclusive agreement to explore the possible acquisition by Orange of four Airtel subsidiaries. Read More
Equitel seeks a share of Kenya’s lucrative telco marketEquity Bank’s subsidiary, Finserve Africa, has launched Equitel, a new mobile payment and banking platform for its customers, which officially brings to the fore the convergence between mobile and banking services in Kenya. Read More
Kenya to host global entrepreneurship forumKenya has captured global attention following the imminent entrepreneurship forum to be graced by US President Barack Obama. Read More
FEATURED STORYBatswana dragging feet in digital migration
More than a month after the deadline for the digital migration from analogue television, few people have shown any pronounced enthusiasm in entering the new digital TV realm.
BEST READ NEWS
IN DEPTHAs curtain falls on MDGs, what next?
Dr. Bjorn Lomborg, president of the Copenhagen Consensus Centre, speaks to Biztechafrica about setting smart targets.
COMPANY NEWSMTN Business App of the Year submissions closed
Entries for the annual MTN Business App of the Year Awards taking place on 13 August in Johannesburg have closed, and an expert panel of judges that is adjudicating ...