ITC Global, a US provider of satellite communications systems to mining, oil & gas, and maritime companies, has bought the remaining 10% stake it did not already own in its Guinean subsidiary, ITC Guinee.
Commenting on the transaction, Joseph Spytek,…
ITC Global, a US provider of satellite communications systems to mining, oil & gas, and maritime companies, has bought the remaining 10% stake it did not already own in its Guinean subsidiary, ITC Guinee.
Commenting on the transaction, Joseph Spytek, co-founder and CEO of ITC Global, said: “Increasing ownership in one of our key markets is a core strategic objective for ITC Global. We have invested in Africa for many years, and will continue to serve our clients in Africa and globally with the outstanding service that ITC Global is known for.
“We will continue to increase our investment in Africa in the near term. This transaction solidifies our strong position in the attractive African market.”
In Guinea, ITC specialises in mobile VSAT trailer sales and rentals, Inmarsat satellite phone sales and rentals, VSAT installation, as well as LAN infrastructure design and installation.
In early June, Netherlands’ Imtech Marine and ITC Global entered into a long-term strategic alliance to provide a VSAT satellite communications network for the global maritime industry.
“Under the alliance, Imtech Marine will supply, install and service shipboard maritime electronics and communications systems. ITC Global will design, supply and provide engineering support for the global satellite communications network,” according to a statement at the time.
ITC did not respond to requests for comment before the press deadline.
