Maritime connectivity and IT services provider Marlink Group has obtained final regulatory approvals to acquire 100% of ITC Global from Panasonic
Both the Federal Communications Commission (FCC) and the Committee on Foreign Investment in the United States (CFIUS) have given their approval to the deal. ITC Global is expected to join the Marlink Group on 30 April, supporting the expansion of the Group’s presence in energy and enterprise markets.
Marlink said, “The Marlink and ITC Global management teams are preparing for a swift closing of the transaction in the coming weeks, while remaining fully focused on providing best-in-class services to their customers across the world.”
As part of the Marlink Group, ITC Global will mainly focus on energy and high-end customers who demand specific and complex managed network services. The company will compliment Marlink Group’s global reach with a strong presence in the US, the UK and Australia.
Marlink Group chief executive Erik Ceuppens said "We are pleased to welcome ITC Global as part of the Marlink Group. ITC Global will become a cornerstone of the Group as we expand our global leadership position beyond our Maritime and Enterprise businesses. Our customers will benefit greatly from the combined Group’s enhanced capabilities and strengths; and from an industry-unique portfolio of innovative and fully managed smart network solutions that is enabling the digital transformation of their remote operations."
ITC Global chief executive Ian Dawkins said “There has been a lot of disruption and uncertainty among the providers in our sector recently, but ITC Global has demonstrated expertise and stability to provide best-in-class managed satcoms services across the world. Being part of the Marlink Group will only enhance this position as we build on the synergies across the Group to deliver better and better services.”
Marlink added that the Group will continue with its M&A strategy to grow further.
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