BT has embarked on the acquisition trail once more with the announcement that it has bought South American data communication services company Comsat International. The terms of the deal were undisclosed.
Comsat provides local, national and pan-regional network services for around 2,000 enterprise, government and service-provider customers in South America. It also runs domestic networks in Argentina, Brazil, Colombia, Mexico, Peru, Venezuela and throughout Central America as well as two gateway interconnect points in the US. It also provides services in Turkey.
Franois Barrault, president at BT International said the acquisition, through its parent company CI Holding Corporation, will be a milestone in the execution of the company's strategy of well targeted acquisitions around the world.
"This will help us take our 21st Century network and services portfolio to customers and prospects operating in the region," said Barrault. "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."
As at the last audited balance sheet on 31 December 2005, the gross assets of Comsat International were $145m. Closing of the transaction is subject to regulatory and anti-trust clearances and the satisfaction of other conditions.
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