Posted on: 16 March 2015 by Ross McSweeny
Panasonic has announced plans to acquire ITC Global, a leading provider of satellite communication services for the energy, mining, and maritime markets, after which it will become an independent unit of Panasonic Avionics.By combining strengths, ITC Global and Panasonic Avionics hope to become leaders in global satellite services supporting long term customer requirements as demand for bandwidth and reliable communications solutions continues to grow across the energy, mining, maritime and aviation markets.ITC Global will continue to execute its current strategic plan under founder and CEO, Joe Spytek, who will report to Paul Margis, president and CEO of Panasonic Avionics. ITC Global’s management team will remain in place and will continue to focus on its customers in the energy, mining, and maritime markets, while Panasonic Avionics will remain dedicated to its customers in the aviation market.“Panasonic’s acquisition of ITC Global highlights the natural alignment of customers across the aviation, energy, mining and maritime markets, all of whom require mobile broadband, high reliability, global coverage and responsive customer service,” explained Margis. “ITC Global is a proven leader and we share a common passion for excellent customer service. Together, we look forward to taking satellite communications services to a new level of value and performance.” “Panasonic Avionics’ global capabilities and leadership in satellite-based communication will enable ITC Global to enhance our core service offerings to all of our customers,” said Spytek. “This combination assures ITC Global’s long-term access to next-generation satellite technology resources and strengthens our ability to deliver optimal value and service to meet our customer’s current and future mission requirements.”Founded in 2001 with regional headquarters in Houston, Texas; Sion, Switzerland; and Perth, Australia, ITC Global serves customers at more than 1,300 remote sites across 70 countries and all the world’s oceans.Panasonic Avionics’ satellite network already covers 99% of all airline flight hours and 98% of all maritime traffic routes, and the organisation is in the process of adding High Throughput Satellite capacity that will wrap around the globe.