Press Releases
Marlink Group obtains regulatory approval to acquire ITC Global
Next milestone reached in ITC Global joining the Marlink Group with closing of the transaction expected 30th April
Oslo/Paris/Houston TX, 12 April 2021: Marlink Group, backed by Apax Partners sas, has obtained final regulatory approvals to acquire 100% of ITC Global from Panasonic. 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.
Both the Federal Communications Commission (FCC) and the Committee on Foreign Investment in the United States (CFIUS) have given their approval to the deal. All is now on track for ITC Global to join the Marlink Group on 30th April, supporting the expansion of the Group’s global leadership in the energy and enterprise markets.
ITC Global will become a cornerstone of the Group
As part of the Marlink Group, ITC Global will mainly focus on energy and high-end customers who demand specific and complex managed network solutions. Furthermore, ITC Global will extend and complement Marlink Group’s global footprint with a strong presence in the US, the UK and Australia.
Erik Ceuppens, CEO of the Marlink Group, 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.”
Ian Dawkins, CEO of ITC Global, said, “There has been a lot of disruption and uncertainty among the providers in our sector recently, but ITC Global has all the way 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 Group has very strong momentum in all its businesses and has in recent years outperformed the market both commercially and financially. With the support of its investors, Marlink Group will continue its selective and successful M&A strategy to further develop and exploit its growth potential.
Ends
For further information, please contact:
Knut Natvig, Marlink
T: +47 48 030 911
E: knut.natvig@marlink.com
Charlie Pryor
T: +44 7958 975 667
About Marlink
Marlink is the trusted partner in fully managed smart network solutions, based on an intelligent hybrid network and unrivalled digital solutions.
The company provides Smart Network Solutions, connecting people and assets around the globe and across all markets where conventional connectivity cannot reach or is not available. Marlink’s Intelligent Hybrid Network combines global satcom and terrestrial technologies via a proprietary global infrastructure.
The Marlink Smart Edge, an integrated service delivery platform, orchestrates and optimises all network elements and applications, from data handling and IT to application-based routing (SD Wan), cloud and Digital Solutions, including remote data and IT, cyber security as well as IoT/OT solutions.
This provides customers with full ‘Peace of Mind’ that their chosen network solution is fully optimised, integrated and has the security required to operate more profitably and sustainably, increasing their efficiency and safety through operational optimisation, tracking and routing, monitoring and reporting.
Marlink’s Smart Network Solutions are provided as Managed Services meeting the highest quality standards and service level agreements. The company proactively monitors and supports network solutions, providing alerts, reporting and insights on performance and usage of connectivity, bridge electronics systems and applications as well as advice and consultancy on how to further optimise customer networks.
Please visit www.marlink.com for more information.
About Apax Partners
Apax Partners is a leading European private equity firm based in Paris. With over 45 years of experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €4 billion. These funds invest in fast-growing middle-market companies across four sectors of specialisation: Tech & Telecom, Consumer, Healthcare and Services
Paris-headquartered Apax Partners sas (www.apax.fr) and London-headquartered Apax Partners LLP (www.apax.com) have a shared history but are separate, independent private equity firms.
ITC Global
We keep you connected.
Our customers’ operations and the people who run them are a long way from home and need to be connected.
At ITC Global, we bridge the gap by ensuring your global satellite communications and IT systems are performing securely and reliably, allowing you to focus on what is important without worrying about your connection.