PCCW Global to acquire Gateway Communications’ satellite unit
12 June 2012 |
Hong Kong’s PCCW Global has reportedly agreed to acquire the satellite service unit of Vodacom’s Gateway Communications, in a bid to expand its African operations.
Bloomberg reports that PCCW will acquire the unit for $26 million.
PCCW announced last week that it had added Vodacom as a client and “will acquire certain relevant assets from Vodacom – to help serve Vodacom’s communications needs.”
“We are pleased that Vodacom has become an important client for PCCW Global as we supplement our existing capabilities in the EMEA region to better serve our existing customers and consistently develop new relationships and opportunities,” said Marc Halbfinger CEO of PCCW Global.
PCCW has been looking to expand its offering to multinationals and carriers in Africa, having faced fierce domestic competition from the likes of China Mobile and Hutchison.
Vodacom acquired Gateway for $700 million at the end of 2008 but is now selling off parts of the unit to focus on its mobile business in South Africa.
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