Marlink Group obtains regulatory approval to acquire ITC Global
(12 April 2021 - Marlink) Marlink Group, backed by Apax Partners, 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.
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.