(Information sent by the signatory company)
RIYADH, Saudi Arabia, December 21, 2023 /PRNewswire/ — center3, a wholly owned subsidiary of stc Group, announces that it has signed a definitive agreement to acquire CMC Networks, a global service provider offering leading networking solutions in the market in Africa and the Middle East.
CMC Networks operates more than 110 service locations with a cost-effective, scalable and resilient data communications network. It has the largest pan-African network serving 51 of 54 countries in Africa and 12 countries in the Middle East, as well as regional hubs in key interconnection locations in Europe, the Americas and Asia Pacific.
The acquisition aligns with center3’s strategic vision of growth and expansion in the Middle East and Africa markets. It represents a significant step in the company’s journey to expand its market presence and enhance its offerings in this dynamic and fast-growing region.
CMC Networks is being acquired by the Carlyle Fund for Sub-Saharan Africa (“CSSAF”). In 2020, the CSSAF team formed a separate private equity firm, Alterra Capital Partners (“Alterra”), which continues to advise CSSAF’s investments, including CMC Networks.
Fahad AlHajeri, CEO of center3, said:
“This acquisition is a historic moment for center3. CMC’s enviable global presence, high-value customer base and portfolio of capabilities are highly complementary to center3’s digital infrastructure and connectivity assets. This acquisition exemplifies our strategic commitment to enter key markets with significant growth potential. The previous investment in 2Africa Cable, together with this acquisition, underlines our belief in the essential role of Africa in the future growth of center3. We are excited about the possibilities that CMC Networks will bring, including its wealth of knowledge, capability in the African region and promising growth in the Middle East.”
Marisa Trisolino, Group CEO of CMC Networks, said:
“Joining forces with center3 is an exciting development for us. We share a common vision to continue expanding in the African market and together we will be able to achieve more, innovate more and deliver improved value to our customers. This acquisition will bring together the strengths of both companies, fostering innovation, improving customer service and providing new growth opportunities in the Africa and Middle East market. “We are excited about the future and the opportunities this acquisition will unlock for CMC Networks.”
Eric Kump, partner at Alterra, said:
“This acquisition is a fantastic opportunity to bring together the dynamic teams at center3 and CMC Networks.”
The acquisition is subject to customary conditions and approvals.
About center3
center3, a subsidiary of stc Group, was created to fulfill Saudi Arabia’s vision of becoming a global data and communications hub, leveraging its strategic geographic position to connect Europe, Asia and Africa, and establish itself as a digital hub in the region ORE. With its extensive network of data centers and submarine cable systems, center3 is uniquely positioned to offer its specialized services throughout the region.
Visit https://center3.com.
For more information, please contact Rrsjouenne@center3.com
About CMC Networks
CMC Networks is a service provider that enables and accelerates digital transformation in the world’s most challenging markets. Headquartered in South Africa, it provides network reach across six continents with innovation in artificial intelligence, cloud access, cybersecurity, EDGE Cloud, SDN, virtualization and a range of services to solve the challenges of multinationals, operators, governments and non-profit organizations. profit. with world class solutions in the MEA region.
Visit https://cmcnetworks.com
For more information, please contact Ana.Serrao@cmcnetworks.com
About Alterra Capital Partners
Alterra is an experienced pan-African private equity fund manager dedicated to investing in Africa. The Alterra team, operating from offices in Johannesburg and Nairobi, has led more than $1 billion in private equity investments in 23 companies across Africa. Alterra’s primary focus sectors include business services, healthcare, technology and telecommunications.
For more information, please contact Mtshuma@alterracapital.com
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