The agreement is subject to regulatory review and other customary conditions, and is expected to close by second quarter of 2015.
The acquisition is thought to benefit both organisations' combined 1,600 vessels and more than 8,000 land-based customer sites in remote locations. Combined, the company will be one of the largest independent providers of satellite connectivity services in some of the most remote regions in the world. The company will also be the largest provider of connectivity services, in some of the most strategic verticals within the satellite industry, backed by ABRY Partners, a private equity firm specialising in funding some of the most successful communications companies in North America.
“Our vision is to create the next generation mobility platform offering the most reliable, secure and cost-effective connectivity solutions for people and businesses on-the-move and in far reaching places, on land and at sea, and the acquisition of MTN makes this vision a reality,” said Abel Avellan, founder and CEO of EMC.
“We are bringing together two global communications leaders to meet customers’ unprecedented requirements for land-like connectivity, content and voice services in the world’s furthest reaching corners,” added Mark Walter, president and chief operating officer, MTN. “Our combined talent, networks and product set will deliver capabilities and scalability no other provider can offer.”
Errol Olivier, executive vice chairman, MTN also commented: “Since our customers ask for greater speeds and exponentially higher throughput every year, combining into one entity enhances our ability to bring invaluable solutions, with the highest levels of service, for business and mission-critical operations globally,” adding that, “We are excited about the enhanced scale and global resources we will bring in our mission to exceed customer demands.”
Allegedly, the acquisition will leverage patented and patent-pending solutions, including optimisation, cloud computing and hybrid networks. The complementary acquisition will expand global footprints, service centres and teleports, and invaluable products.
“By integrating EMC and MTN, we will put together all of the key building blocks to create the most complete, globally-scalable mobility platform, along with unique services, truly different from any provider in the market,” said Avellan.
SuperyachtNews.com will provide more information when the agreement has gone through regulatory reviews and passed customary conditions.
If you like reading our Editors' premium quality journalism on SuperyachtNews.com, you'll love their amazing and insightful opinions and comments in The Superyacht Report. If you’ve never read it, click here to request a sample copy - it's 'A Report Worth Reading'. If you know how good it is, click here to subscribe - it's 'A Report Worth Paying For'.