BT to Acquire Comsat International
Latin American acquisition to improve BT's global reach
LONDON, April 20 / -- 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 organizations 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 globalization. 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 recognized 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 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 pounds sterling with profit before taxation of 2,040 million pounds sterling.
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 http://www.bt.com/aboutbt
Source: BT
CONTACT: Barbara Cattolica of BT, +1-925-242-0882
Web site: http://www.btplc.com/
http://www.bt.com/aboutbt
http://comsatint.com/
