Marlink set to enter orbit
Marlink Group, backed by Apax Partners, has signed an agreement to acquire ITC Global, the satellite communications experts.
By Marc Allen, Maritime Direct UK.
In a press release today, Marlink has announced that it has entered a definitive agreement to acquire 100 per cent of the satellite communications firm, ITC Global, a subsidiary of the Panasonic Corporation. When the acquisition is completed, ITC will become a cornerstone of the Marlink group and will complement Marlink’s leading involvement in the energy and enterprise markets.
ITC is well known for its expertise in managed, high-value satellite network solutions and the company’s strong reputation in the energy and maritime passenger markets will help the group expand its share of these highly competitive market segments.
Additionally, ITC will help Marlink expand its geographical reach in the US, UK and Australia and develop its industry-leading Smart Network Solutions. The finalisation of the deal is subject to the customary regulatory approvals and is expected in the first quarter of 2021.
