The US-based satellite services provider Globecomm has acquired two new businesses at a combined price of US$15m.
It has bought the Dutch company Carrier to Carrier Telecom (C2C) and the South African unit Evolution Communication Ltd (Evocomm) from the…
The US-based satellite services provider Globecomm has acquired two new businesses at a combined price of US$15m.
It has bought the Dutch company Carrier to Carrier Telecom (C2C) and the South African unit Evolution Communication Ltd (Evocomm) from the Dutch group Carrier to Carrier Telecomm Holdings (C2C Holdings).
The dual acquisition was funded through US$2.5m cash and US$12.5m from Globecomm’s existing US$60m credit facility with Citibank. C2C Holdings could receive a further sum of up to US$10.9m based on earnings milestones over the next two years.
Globecomm was advised by Arcadia Securities on the deal. Kramer Levin Naftalis & Frankel provided legal advice.
C2C provides satellite services across Africa, the Middle East, Europe and Asia, and maritime services in the Atlantic, Mediterranean, Gulf of Mexico and the Indian Ocean regions through teleport facility, located in Biddinghuizen in the Netherlands.
Evocomm is based in Johannesburg and provides Inmarsat with land-based BGAN and maritime fleet broadband services.
The two companies, which operate in markets where Globecomm is already strong, had combined revenues of US$19.5m last year.
David Hershberg, chairman and CEO of Globecomm, said: “With this acquisition, Globecomm continues to execute on its long-term plan of building the industry’s finest end-to-end managed services company. The natural cultural fit of the engineering talent of C2C, Evocomm and Evosat, coupled with a robust teleport in Biddinghuizen, were the primary factors in our decision to move forward with this transaction. Pier du Plessis, CEO of C2C, and Harry Tayler, Managing Director of Evosat, both share very similar philosophies to Globecomm as it relates to the high value added experience we deliver to our customers.
“Globecomm believes that both of them will be a natural fit in working with the executive management team of the company as we execute on our combined vision.”
