center3, a wholly owned subsidiary of the stc Group, has announced its definitive agreement to purchase CMC Networks, a global service provider that offers cutting-edge networking solutions throughout Africa and the Middle East.
With over 110 service locations, CMC Networks operates a cost-effective, scalable, and resilient data communications network. Its extensive pan-African network covers 51 out of 54 African countries and 12 Middle Eastern countries, with additional regional hubs in strategic interconnect locations across Europe, the Americas, and Asia Pacific.
This acquisition perfectly aligns with center3’s strategic vision for growth and expansion in the Middle East and African markets. It is a significant milestone in center3’s journey to expand its market presence and enhance its offerings in this vibrant and rapidly developing region.
CMC Networks is being acquired from the Carlyle Sub-Saharan Africa Fund (CSSAF). In 2020, the CSSAF team established a separate private equity firm called Alterra Capital Partners (Alterra), which continues to provide advisory services for CSSAF’s investments, including CMC Networks.
The acquisition is subject to customary conditions and approvals.
Landmark moment
Fahad AlHajeri, CEO at center3, said: “This acquisition is a landmark moment for center3. CMC’s enviable global footprint, high value customer base and portfolio of capabilities is very complementary to center3’s digital infrastructure and connectivity assets. This acquisition exemplifies our strategic commitment to enter 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.”
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Thrilling development
For her part, 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.”
Additionally, Eric Kump, partner at Alterra, said: “This acquisition is a fantastic opportunity to bring the dynamic center3 and CMC Networks teams together.”
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