ITC Global, Inc. Acquires Remaining Interest in ITC Guinee SARL, Announces Investment in West Africa

 

Aug. 20, 2012

ITC Global, Inc. has acquired the remaining 10% interest in ITC Guinee SARL. As a result of this transaction, ITC Global will own 100% of ITC Guinee SARL. Through ITC Guinee SARL, ITC Global will continue to provide comprehensive networking solutions on a global basis, focusing on Africa-based client sites.

"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," said Joseph Spytek, co-founder and Chief Executive Officer of ITC Global. "We will continue to increase our investment in Africa in the near term. This transaction solidifies our strong position in the attractive African market."

ITC Global's Guinea office has been fully operational since 2005 through an agency agreement and this location is fully staffed with a highly technical team that will continue to deliver ITC Global's customized solutions. ITC Global has recently been awarded industry standard HS&E certification for the Pilbara region, and the Company continues to operate under these standards throughout the world. This location will continue to provide VSAT services and support, and will remain a critical location in the Company's geographic footprint. ITC Global will continue to offer a full range of services locally, including mobile VSAT trailer sales and rentals, Inmarsat satellite phone sales and rentals, VSAT installation, and Local Area Network infrastructure design and installation, among others.