Panasonic Completes ITC Global Acquisition


NEWARK, N.J. – Panasonic Corporation today announced that it has completed its acquisition of ITC Global, a leading provider of satellite communication services for the energy, mining, and maritime markets. Founded in 2001 with regional headquarters in Houston, Texas; Sion, Switzerland; and Perth, Australia, ITC Global serves customers at more than 1,200 remote sites across 70 countries and all the world's oceans. Panasonic, through its subsidiary Panasonic Avionics Corporation, is a leading provider of inflight communications and entertainment systems to the aviation market.



Paul Margis, President and Chief Executive Officer of Panasonic Avionics said, "We are extremely pleased to have completed the acquisition of ITC Global. Together, we will set a new standard in global satellite services by delivering robust entertainment and business critical communications solutions to the energy, mining, maritime and aviation markets."



As a result of this transaction, ITC Global becomes "ITC Global, A Panasonic Company" and will operate as an independent unit of Panasonic Avionics. The ITC Global 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.



About Panasonic Corporation



Panasonic Corporation is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, enterprise solutions and device industries. Since its founding in 1918, the company has expanded globally and now operates 468 subsidiaries and 94 associated companies worldwide, recording consolidated net sales of 7.715 trillion yen for the year ended March 31, 2015. Committed to pursuing new value through innovation across divisional lines, the company uses its technologies to create a better life and a better world for its customers. To learn more about Panasonic: http://www.panasonic.com/global



About Panasonic Avionics Corporation Panasonic

Avionics Corporation is the world's leading supplier of inflight entertainment and communication systems. The company's best-in-class solutions, supported by professional maintenance services, fully integrate with the cabin enabling its customers to deliver the ultimate travel experiences with a rich variety of entertainment choices, resulting in improved quality communication systems and solutions, reduced time-to-market and lower overall costs.



Established in 1979, Panasonic Avionics Corporation, a U.S. corporation, is a subsidiary of Panasonic Corporation of North America, the principal North American subsidiary of Panasonic Corporation. Headquartered in Lake Forest, California with over 4,100 employees and operations in 80 locations worldwide, it serves over 200 customers worldwide and provides IFEC systems on over 6,000 aircraft. For additional information, please visit www.panasonic.aero.



SOURCE Panasonic Corporation of North America



CONTACT: Jim Reilly (Panasonic), 201-392-6067, jim.reilly@us.panasonic.com, Brian Bardwell, Corporate Communications Manager, Panasonic Avionics Corporation, Tel: +1 949 462 1742, Brian.Bardwell@panasonic.aero



Web Site: http://www.panasonic.com/global

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