Satellite communication service provider, ITC Global Inc, has entered into a deal to acquire Spidersat Communications Limited by the end of September 2012
Privately-owned Spidersat Communications functions as an integrator of communications solutions focused on providing satellite-based communication services for mining, exploration, and mining services companies operating in Africa.
Joseph Spytek, co-founder and chief executive officer of ITC Global, said, “Spidersat will advance ITC Global’s position in Africa, and offer us resources for enterprise clients throughout 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.”
Mike Hennessey, managing director of Spidersat, said, “We are proud to be aligned with ITC Global. Key markets such as Burkina Faso, Liberia and the DR Congo will be highly important to ITC Global’s Africa footprint, and our local approach to satellite communications will be strengthened under the ITC Global umbrella.”
ITC Global’s announcement to acquire Spidersat has followed the recent completion of its acquisition of the remaining interest in ITC Guinee SARL, bringing ITC Global’s ownership to 100 per cent of ITC Guinee SARL.
