Maritime connectivity and IT solutions provider Marlink Group 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," Marlink said.
"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," Marlink aded.
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, Marlink said.
With the expected completion of the ITC Global acquisition, Marlink doesn't intend to stop there. The company said that, 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."
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