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
Building an African Dream: The Wyzetalk journeyEnterprise social networking company Wyzetalk examines the challenges and opportunities it encountered as a startup in Africa. Read More
African organisations under pressure to sharpen skills retention and employee engagementBusinesses across major African economies such as Kenya and Nigeria are coming under increasing pressure to align their strategies for retaining talent, compensating employees and engaging with their workforces with good international practices. Read More
The Workplace of the FuturePhilip Gregory, Senior Regional Executive: Johnson Controls GWS, Middle East & Africa, talks about the workplace of the future, how it will impact the workforce and how businesses can navigate the tension between employee demands and the needs of the corporation. Read More
New MTN boss Ebenezer Asante starts work at MTN Ridge officeThe former Chief Executive Officer for MTN Rwanda Ebenezer Asante has started work on Friday as the new CEO of Ghana’s leading network operator MTN at its plush Ridge Head quarters in Accra. Read More
Tigo Ghana CEO 2nd on Sweden’s list of 75 young and promising womenThe CEO of Tigo Ghana limited, Roshi Motman, has been named as the second most young, promising and prominent female executive on Sweden’s tall list of 75 outstanding women. Read More
Safaricom non-voice revenue, subscriber numbers show strong growthSafaricom has reported a total revenue increase of 13% to Kshs 163.4bn, with non-voice service revenue increasing by 27% to Kshs 68.8bn. Read More
She Leads Africa launches 2015 Entrepreneur ShowcaseThe premier platform for young female entrepreneurs across Africa has launched this year’s competition, with a $15,000 cash prize for the winners. Read More
Africa highlighted as high potential tech marketAfrica’s trade potential has come under the spotlight at the 5th annual DHL Global Technology Conference in Dubai. Read More
Liquid Telecom names new Group Managing ExecutiveWillem Marais has been appointed to the post of Group Managing Executive for Liquid Telecom Group and also joins as the Chief Executive Officer of Liquid Telecom South Africa. Read More
FEATURED STORYBuilding an African Dream: The Wyzetalk journey
Enterprise social networking company Wyzetalk examines the challenges and opportunities it encountered as a startup in Africa.
BEST READ NEWS
IN DEPTHNIMC infrastructure must be managed by credible people: NIMC chief
NIMC’s chief speaks to Kokumo Goodie about the role of the NIMC and his own legacy.
COMPANY NEWSMicrosoft, IICD launch employability hub in Ghana
Microsoft Ghana, in partnership with the International Institute for Communication and Development, has launched the TizaaWorks online platform, a one-stop online hub for employability and entrepreneurship.