UK-based Cable & Wireless Communications (CWC) has agreed to acquire Panama-based Grupo Sonitel, which is a provider of end-to-end managed IT solutions and telecoms services to business and government customers in Panama, El Salvador, Nicaragua and Peru, for USD36 million plus contingent consideration of up to USD5 million. With the transaction to be carried out via CWC’s Panamanian unit, Cable & Wireless Panama (CWP), it has been noted that Logistica, an IT hardware reseller, and a small number of other non-core Grupo Sonitel companies, are not included as part of the transaction.
In announcing the deal, CWC has claimed that the combination of CWP’s networks, connectivity expertise and customer scale with Grupo Sonitel’s end-to-end managed services and solutions will ‘create a market-leading proposition for customers in Panama’. Further, the group has suggested that there are opportunities to grow the business in El Salvador, where the two companies are already partnering on the government’s 911 project, as well as in Peru, Nicaragua and a number of Caribbean markets in which CWC is active.
Phil Bentley, CWC’s chief executive officer, said of the acquisition: ‘This transaction is in line with the strategy we outlined in May to grow our business (B2B) and government (B2G) capabilities.’