ITC Global provides voice and data wide-area networking services to some of the largest and most well-known corporations and organizations around the globe. Our expertise spans a range of industries, including mining, maritime, government, enterprise, defense, NGOs, oil and gas, and humanitarian and aid agencies.
ITC Global News 2012
ITC Global News 2012
Jan 23, 2012 - Riverside Partners Completes Majority Equity Investment in ITC Global, Inc. - click to read
Riverside Partners Completes Majority Equity Investment in ITC Global, Inc.
St. Petersburg, Fl., and Boston, Ma. January 23, 2012 - Riverside Partners, a Boston-based private equity firm, announced today that it received final regulatory approval and has completed its acquisition of a majority equity interest in ITC Global ("ITC GLobal", "ITC" or the "Company"), an international provider of satellite communications services to mining, energy and maritime businesses operating in remote or harsh environments. ITC is headquartered in St Petersburg, Florida. The terms of the transaction, which was previously announced in November 2011, were not disclosed.
ITC Global provides enterprise grade satellite communications services on a global basis. ITC's customers enjoy custom-designed, innovative solutions, including regional and/or global clouds of capacity, hybrid fiber-satellite networks and high-level network engineering. ITC maintains facilities across the Americas, Europe, Asia, Australia and Africa, employs a global engineering and technical staff and runs state-of-the-art Network Operations Centers (NOCs) in St. Petersburg, Florida, Harahan, Louisiana and Perth, Western Australia.
The acquisition brings together complementary and valuable capabilities, providing immediate benefits to both organizations. Broadpoint customers will be able to access ITC Global's worldwide coverage footprint and support services, which is critical as oil and gas exploration increasingly takes place in emerging markets such as West Africa and the North West Shelf of Western Australia.
"The creation of this partnership is exciting as ITC Global continues on its path of aggressive growth," said Joseph Spytek, co-founder and Chief Executive Officer of ITC Global. "We are excited to work closely with Riverside Partners to drive our market leading position in providing fully managed global communications networks to the mining, energy, and maritime sectors. We will continue with Riverside Partners' support to expand our product offerings and geographic coverage as well as provide our global clients with the highest level of reliability and service in the industry. Since originally announcing the investment by Riverside Partners in November of last year, we continue to see considerable growth in our business and have recently been awarded major energy contracts in the Gulf of Mexico and the North West Shelf of Western Australia."
"We are excited to provide ITC Global with the capital and backing to accelerate its growth in the satellite industry," said Steven F. Kaplan, a General Partner at Riverside Partners. "ITC Global has a high value-add position in their market, and the Company's presence in the key mining, energy, and maritime verticals positions the Company for significant expansion. We look forward to continuing to work with Joe and his team to create meaningful value for ITC Global's customers."
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About ITC Global
ITC Global is one of an elite group of companies that is able to deliver enterprise grade satellite communications on a global basis, with facilities across The Americas, Europe, Asia and Australia, and trained engineering and technical staff in key strategic locations. Providing satellite communications systems and ongoing support to some of the world's largest and most successful mining companies in some of the most difficult and remote locations, ITC Global is also using its people, processes and technologies to deliver innovative solutions to oil and gas clients operating in developing markets and emerging gas fields. For more information, please visit www.itcglobal.com
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm focusing on growth-oriented companies in the healthcare and technology industries. Riverside is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies. The firm is currently focused on companies with revenues between $20 - $200 million and with $5 - $25 million of EBITDA. For more information, please visit www.riversidepartners.com.
St. Petersburg, Fl., and Boston, Ma. January 23, 2012 - Riverside Partners, a Boston-based private equity firm, announced today that it received final regulatory approval and has completed its acquisition of a majority equity interest in ITC Global ("ITC GLobal", "ITC" or the "Company"), an international provider of satellite communications services to mining, energy and maritime businesses operating in remote or harsh environments. ITC is headquartered in St Petersburg, Florida. The terms of the transaction, which was previously announced in November 2011, were not disclosed.
ITC Global provides enterprise grade satellite communications services on a global basis. ITC's customers enjoy custom-designed, innovative solutions, including regional and/or global clouds of capacity, hybrid fiber-satellite networks and high-level network engineering. ITC maintains facilities across the Americas, Europe, Asia, Australia and Africa, employs a global engineering and technical staff and runs state-of-the-art Network Operations Centers (NOCs) in St. Petersburg, Florida, Harahan, Louisiana and Perth, Western Australia.
The acquisition brings together complementary and valuable capabilities, providing immediate benefits to both organizations. Broadpoint customers will be able to access ITC Global's worldwide coverage footprint and support services, which is critical as oil and gas exploration increasingly takes place in emerging markets such as West Africa and the North West Shelf of Western Australia.
"The creation of this partnership is exciting as ITC Global continues on its path of aggressive growth," said Joseph Spytek, co-founder and Chief Executive Officer of ITC Global. "We are excited to work closely with Riverside Partners to drive our market leading position in providing fully managed global communications networks to the mining, energy, and maritime sectors. We will continue with Riverside Partners' support to expand our product offerings and geographic coverage as well as provide our global clients with the highest level of reliability and service in the industry. Since originally announcing the investment by Riverside Partners in November of last year, we continue to see considerable growth in our business and have recently been awarded major energy contracts in the Gulf of Mexico and the North West Shelf of Western Australia."
"We are excited to provide ITC Global with the capital and backing to accelerate its growth in the satellite industry," said Steven F. Kaplan, a General Partner at Riverside Partners. "ITC Global has a high value-add position in their market, and the Company's presence in the key mining, energy, and maritime verticals positions the Company for significant expansion. We look forward to continuing to work with Joe and his team to create meaningful value for ITC Global's customers."
ITC Global is one of an elite group of companies that is able to deliver enterprise grade satellite communications on a global basis, with facilities across The Americas, Europe, Asia and Australia, and trained engineering and technical staff in key strategic locations. Providing satellite communications systems and ongoing support to some of the world's largest and most successful mining companies in some of the most difficult and remote locations, ITC Global is also using its people, processes and technologies to deliver innovative solutions to oil and gas clients operating in developing markets and emerging gas fields. For more information, please visit www.itcglobal.com
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm focusing on growth-oriented companies in the healthcare and technology industries. Riverside is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies. The firm is currently focused on companies with revenues between $20 - $200 million and with $5 - $25 million of EBITDA. For more information, please visit www.riversidepartners.com.
Jan 30, 2012 - ITC Appoints Steven M. Barto Executive Vice President and Chief Financial Officer - click to read
ITC Global, Inc. Appoints Steven M. Barto Executive Vice President and Chief Financial Officer
St. Petersburg, Fl., and Boston, Ma. January 30, 2012 - ITC Global, Inc., a leading provider of enterprise grade satellite communications on a global basis to mining, energy and maritime businesses, announced today the appointment of Steven M. Barto as Executive Vice President, Chief Financial Officer of the Company. This appointment is effective immediately.
Barto comes to ITC Global from Vocollect, a leading provider of voice recognition enabled computing systems used to manage mobile workforces, where he joined as Chief Financial Officer and most recently served as Senior Vice President, General Manager. His career spans 25 years of working with both public and privately-held technology companies to accelerate global growth as well as merger and acquisition strategies. Mr. Barto previously held senior leadership positions at BPL Global Ltd., Ericsson, Marconi, RELTEC and Price Waterhouse. Mr. Barto is a Certified Public Accountant and has a Bachelor's degree from Kent State University.
"We are delighted to have Steve join the ITC Global team," said Joseph Spytek, co-founder and Chief Executive Officer of ITC Global. "His industry background and extensive experience managing financial matters for rapidly expanding global technology businesses will be a great asset as we continue to focus on aggressive organic growth as well as acquisition driven expansion. In the past year, ITC Global has expanded its operations in the oil and gas sector with the completion of the acquisition of Broadpoint from Cellular One and more recently completed the equity investment by Riverside Partners to further fuel our growth. I am confident Steve will further strengthen our management team as we continue to pursue our growth initiatives."
ITC Global, headquartered in St. Petersburg, Florida, is a portfolio company of Riverside Partners, a Boston-based private equity firm. Steven F. Kaplan, general partner at Riverside Partners, said, "We are excited to have Steve join the management team at ITC Global after seeing firsthand what he was able to accomplish at Vocollect, a Riverside Partners portfolio company, until its sale to Intermec in 2011."
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About ITC Global
ITC Global is one of an elite group of companies that is able to deliver enterprise grade satellite communications on a global basis, with facilities across The Americas, Europe, Asia and Australia, and trained engineering and technical staff in key strategic locations. Providing satellite communications systems and ongoing support to some of the world's largest and most successful mining companies in some of the most difficult and remote locations, ITC Global is also using its people, processes and technologies to deliver innovative solutions to oil and gas clients operating in developing markets and emerging gas fields. For more information, please visit www.itcglobal.com
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm focusing on growth-oriented companies in the healthcare and technology industries. Riverside is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies. The firm is currently focused on companies with revenues between $20 - $200 million and with $5 - $25 million of EBITDA. For more information, please visit www.riversidepartners.com.
St. Petersburg, Fl., and Boston, Ma. January 30, 2012 - ITC Global, Inc., a leading provider of enterprise grade satellite communications on a global basis to mining, energy and maritime businesses, announced today the appointment of Steven M. Barto as Executive Vice President, Chief Financial Officer of the Company. This appointment is effective immediately.
Barto comes to ITC Global from Vocollect, a leading provider of voice recognition enabled computing systems used to manage mobile workforces, where he joined as Chief Financial Officer and most recently served as Senior Vice President, General Manager. His career spans 25 years of working with both public and privately-held technology companies to accelerate global growth as well as merger and acquisition strategies. Mr. Barto previously held senior leadership positions at BPL Global Ltd., Ericsson, Marconi, RELTEC and Price Waterhouse. Mr. Barto is a Certified Public Accountant and has a Bachelor's degree from Kent State University.
"We are delighted to have Steve join the ITC Global team," said Joseph Spytek, co-founder and Chief Executive Officer of ITC Global. "His industry background and extensive experience managing financial matters for rapidly expanding global technology businesses will be a great asset as we continue to focus on aggressive organic growth as well as acquisition driven expansion. In the past year, ITC Global has expanded its operations in the oil and gas sector with the completion of the acquisition of Broadpoint from Cellular One and more recently completed the equity investment by Riverside Partners to further fuel our growth. I am confident Steve will further strengthen our management team as we continue to pursue our growth initiatives."
ITC Global, headquartered in St. Petersburg, Florida, is a portfolio company of Riverside Partners, a Boston-based private equity firm. Steven F. Kaplan, general partner at Riverside Partners, said, "We are excited to have Steve join the management team at ITC Global after seeing firsthand what he was able to accomplish at Vocollect, a Riverside Partners portfolio company, until its sale to Intermec in 2011."
ITC Global is one of an elite group of companies that is able to deliver enterprise grade satellite communications on a global basis, with facilities across The Americas, Europe, Asia and Australia, and trained engineering and technical staff in key strategic locations. Providing satellite communications systems and ongoing support to some of the world's largest and most successful mining companies in some of the most difficult and remote locations, ITC Global is also using its people, processes and technologies to deliver innovative solutions to oil and gas clients operating in developing markets and emerging gas fields. For more information, please visit www.itcglobal.com
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm focusing on growth-oriented companies in the healthcare and technology industries. Riverside is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies. The firm is currently focused on companies with revenues between $20 - $200 million and with $5 - $25 million of EBITDA. For more information, please visit www.riversidepartners.com.
