center3, a wholly-owned subsidiary of the stc Group, has announced that it has entered into a definitive agreement to acquire CMC Networks, which offers network solutions across Africa and the Middle East. Center3 states that this acquisition aligns with its vision for growth and expansion in the Middle East and African markets, representing a significant step to extend its market presence.
Also Read: Center3 Chooses Ciena’s 800G Technology for 2Africa Submarine Cable System
Extensive Network Reach
Operating across more than 110 service locations, CMC Networks claims to have the largest pan-African network, servicing 51 out of 54 countries in Africa and 12 countries in the Middle East. Additionally, it has regional hubs in key interconnect locations across Europe, the Americas, and the Asia Pacific.
Center3's Vision for Growth
Center3 said, "CMC's enviable global footprint, high-value customer base, and portfolio of capabilities are very complementary to Center3's digital infrastructure and connectivity assets. This acquisition exemplifies our strategic commitment to entering key markets with significant growth potential."
"Our previous investment in 2Africa Cable, coupled with this acquisition, underscores our conviction in Africa's essential role in Center3's future growth. 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."
Digital Infrastructure Synergy
Commenting on the development, Marisa Trisolino, Group CEO of CMC Networks, said, "Joining forces with Center3 is a thrilling development for us. We share a common vision of further expanding in the African market, and together we will be able to achieve more, innovate further, and deliver enhanced value to our customers."
"This acquisition will bring together the strengths of both companies, fostering innovation, enhancing customer service, and providing new opportunities for growth in the African and the Middle East market. We are excited about the future and the opportunities that this acquisition will unlock for CMC Networks."
Also Read: Center3 and Stc Bahrain to Land 2Africa Pearls Subsea Cable System in Bahrain
According to the official release, 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. Now, CMC Networks is being acquired from the Carlyle Sub-Saharan Africa Fund (CSSAF).
Bringing the teams of Center3 and CMC Networks together, the acquisition is subject to customary conditions and approvals, according to the joint statement.
