BT acquires Comsat
BT Group PLC
20 April 2007
DC07-197 20 April 2007
BT TO ACQUIRE COMSAT INTERNATIONAL
Latin American acquisition to improve BT's global reach
BT has announced today that it has entered into an agreement to acquire Comsat
International, a leading provider of data communication services for
corporations and public sector organisations in Latin America.
The acquisition of Comsat International, through its parent company, CI Holding
Corporation, will bolster BT's global reach and reinforce its ability to help
customers address the challenges and opportunities of globalisation. Comsat
International employs over 700 professionals with in-depth knowledge of Latin
American markets and provides services directly in 15 countries. The company has
a well-established track record in the delivery of complex projects and the
management of network solutions for enterprise, public sector and carrier
customers. It has its own extensive regional network and also provides customers
with data centre, hosting and security services.
Francois Barrault, President BT International, said: "This acquisition will be
an exciting milestone in the execution of our strategy of well targeted
acquisitions around the world, and will strengthen BT's position as one of the
global leaders in the digital networked economy. Comsat International has an
excellent reputation and is widely recognised for its regional expertise. This
will help us take our 21st Century network and services portfolio to customers
and prospects operating in the region. This acquisition significantly enhances
BT's position in the increasingly important Latin American market. It also
underlines our commitment to providing world class services to our customers
wherever they do business."
George M. Kappaz, President and CEO of Comsat International said: "Comsat is a
leading provider of high-end communications services to the corporate and
government sectors in Latin America, and BT Global Services' capabilities and
experience in global networking and IT for major corporations are second to
none. The combination of our businesses and capabilities in the region presents
an exciting and compelling opportunity for our customers and employees. This
represents a validation of our strategy to focus on corporate and government
customers, which now will further benefit from the substantial ICT and solutions
expertise, increased product and service portfolio and enhanced global coverage
that BT brings to the table."
As at the last audited balance sheet on 31 December 2005, the gross assets of
Comsat International were $145 million.
Closing of the transaction is subject to regulatory and anti-trust clearances
and the satisfaction of other conditions.
About Comsat International
Comsat International, Inc. provides local, national and pan-regional network
services and solutions for approximately 2,000 enterprise, government and
service-provider customers over modern, integrated terrestrial and satellite
network facilities throughout Latin America. It owns domestic networks in
Argentina, Brazil, Colombia, Mexico, Peru, Venezuela and throughout Central
America, with two gateway interconnect points in the USA. The company also
provides services in Turkey. In addition, it operates over 2,000 square meters
of data centre and hosting facilities in the region. Comsat International, Inc.
is headquartered in McLean, Virginia USA, and has operating subsidiaries in 15
countries. CI Holding Corporation is the parent company of Comsat International,
Inc. For more information, visit www.comsatint.com.
About BT
BT is one of the world's leading providers of communications solutions and
services operating in 170 countries. Its principal activities include networked
IT services, local, national and international telecommunications services, and
higher-value broadband and internet products and services. BT consists
principally of four lines of business: BT Global Services, Openreach, BT Retail
and BT Wholesale.
In the year ended 31 March 2006, BT Group plc's revenue was £19,514 million with
profit before taxation of £2,040 million.
British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and
encompasses virtually all businesses and assets of the BT Group. BT Group plc is
listed on stock exchanges in London and New York.
For more information, visit www.bt.com/aboutbt
This information is provided by RNS
The company news service from the London Stock Exchange