Marlink Group, backed by Apax Partners (France), has signed a definitive agreement to acquire 100% of ITC Global, the leading provider of satellite communications solutions, from Panasonic. Upon completion of the acquisition, ITC Global will become a cornerstone of the Marlink Group, supporting the expansion of Marlink's global leadership in the energy and enterprise markets.
ITC Global brings an unparalleled expertise in managed, high-value, high-performance satellite network solutions to the fast-growing Marlink Group. The company's strong reputation in the Energy, Enterprise and Maritime Passenger markets will enable the Group to further expand its leadership position in these highly demanding market segments. In addition, the Marlink Group will leverage the complementarity of ITC Global to diversify and strengthen its commercial operations in the US, UK and Australia further geographically.
Most importantly, their respective customers will benefit greatly from the combined Group's enhanced capabilities and strength as a sustainable leading provider for their business-critical remote connectivity solutions. The acquisition will provide the Marlink Group with synergistic platforms to offer best-in-class managed satcoms services and further develop its industry-leading Smart Network Solutions for its customers.
The closing of the transaction is subject to customary regulatory approvals and is expected in the first quarter of 2021.