Riverside Partners, a private equity firm, has decided to
acquire a majority stake in ITC Global, a provider of satellite communications
services to mining, energy and maritime businesses operating in remote or harsh
environments.

As part of the transaction, Riverside Partners will also
provide the company with significant capital to support ITC’s future growth
initiatives.

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 Network Operations Centers
(NOCs) in St. Petersburg, Florida, Harahan, Louisiana and Perth, Western
Australia.

“We are rapidly expanding our dedicated network and
customer service capabilities as we follow our customers around the world and
expand our market reach. We have all become accustomed to real-time, always-on
connectivity and today’s corporate enterprise applications require a network
that is scalable, predictable and highly available. Our customers rely on ITC
to provide this connectivity to their remote locations through our global
satellite network,” said Joseph Spytek, co-founder and chief executive
officer of ITC Global.

“We believe that Joe and his management team have
built a technologically advanced platform with significant growth
potential,” said Steven F. Kaplan, a general partner at Riverside Partners.

By Telecomlead.com Team
[email protected]