US-based satcoms provider ITC Global has acquired EMEA-focused rival Newsat to gain scale in the energy satellite telecoms market.
ITC Global, which also provides services to the mining and maritime sectors, has historically focused on the Gulf of …
US-based satcoms provider ITC Global has acquired EMEA-focused rival Newsat to gain scale in the energy satellite telecoms market.
ITC Global, which also provides services to the mining and maritime sectors, has historically focused on the Gulf of Mexico, African and Australian markets.
It intends to leverage Swiss-based Newsat’s expertise in Europe, Africa, the Middle East and Asia to bolster it coverage, service and local presence.
Joseph Spytek, co-founder and CEO of ITC Global, explained: “With NewSat and ITC Global working as a single company in the global energy market for VSAT communications, I believe there is significant opportunity for us to change the way customers have historically thought about service and challenge the existing players with a customised, end to end solution for service anywhere, anytime.”
The acquisition of Newsat, which was privately-held, was announced in March. It declined to disclose financial details.
Spytek said ITC Global has been aggressively building out its international satcoms footprint since receiving investment capital from Riverside Partners in January 2012.
That deal saw Riverside, a Boston-based private equity firm focused on the healthcare and technology industries, become the company’s largest shareholder.
Since then it has been on an acquisition trail, which later in 2012 saw it snap up Spidersat Communications, an Africa-based provider of satcoms services to the mining industry.
A spokesman said: “ITC Global continues to evaluate opportunities in our key verticals of mining, energy, and maritime as well as within our key geographies across the globe.”
According to ITC, it manages more than 400 MHz of leased capacity and utilises nine teleports across the world. It claims to have deployed networks in more than 55 countries and currently manages more than 1000 remote sites.
