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center3 acquires CMC Networks in strategic move to accelerate growth plan

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RIYADH, Saudi Arabia, Dec. 20, 2023 /PRNewswire/ — center3, a wholly owned subsidiary of the stc Group, announces that it has entered into a definitive agreement to acquire CMC Networks, a global service provider offering market leading networking solutions across Africa and the Middle East. 

 

 

CMC Networks operates across more than 110 service locations with a cost-effective, scalable, and resilient data communications network. It has the largest pan-African network servicing 51 out of 54 countries in Africa and 12 countries in the Middle East, plus regional hubs in key interconnect locations across Europe, the Americas, and Asia Pacific.

The acquisition aligns with center3’s strategic vision for growth and expansion in the Middle East and African markets. It represents a significant step in the company’s journey to extend its market presence and enhance its offerings in this dynamic and rapidly growing region.

CMC Networks is being acquired from the Carlyle Sub-Saharan Africa Fund (“CSSAF”). 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.

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.”

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.”

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Eric Kump, Partner at Alterra, said:

“This acquisition is a fantastic opportunity to bring the dynamic center3 and CMC Networks teams together.”

The acquisition is subject to customary conditions and approvals.

About center3

center3, a subsidiary of stc Group, was created to fulfil Saudi Arabia’s vision of becoming a global data and communications hub, leveraging its strategic geographical position to link Europe, Asia, and Africa, and to establish itself as a digital hub in the MENA region. With its extensive network of data centers and submarine cable systems, center3 is uniquely positioned to provide its specialized services across the region.

Visit https://center3.com.

For further information please contact [email protected]

About CMC Networks

CMC Networks is a service provider that enables and accelerates digital transformation in the most challenging markets in the world. Headquartered in South Africa, providing network reach across six continents with innovation in AI, cloud on-ramp, cybersecurity, EDGE Cloud, SDN, virtualisation, and a range of services to solve to MNC’s, Carriers, Governments, and non-profit organisations challenges with world-class solutions in the MEA region.

Visit https://cmcnetworks.com

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For further information please contact [email protected]

About Alterra Capital Partners

Alterra is an experienced pan-African private equity fund manager dedicated to investing in Africa. The Alterra team, operating out of offices in Johannesburg and Nairobi, have led over $1.0 billion of private equity investments into 23 companies across Africa. Alterra’s core focus sectors include business services, healthcare, technology, and telecommunications.

For further information please contact [email protected]

Photo – https://mma.prnewswire.com/media/2305634/center3_CMC.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/center3-acquires-cmc-networks-in-strategic-move-to-accelerate-growth-plan-302020318.html

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Fintech PR

Xinhua Silk Road: Multiple achievements made at promotion conference held in Shanghai

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BEIJING, Nov. 28, 2024 /PRNewswire/ — A series of achievements was recently made at the Shanghai Jing’an “Global Service Provider Program” (GSPP) Promotion Conference and the 1st China Enterprise Globalization Development Professional Service Summit Forum held in Jing’an District of east China’s Shanghai.

A white paper on global service providers supporting Chinese enterprises to go overseas was released at the event, where the China office of the Globalization and World Cities (GaWC) published a report on the development index of Shanghai’s professional service industry.

The GSPP has so far included a total of 103 enterprises, after 11 companies were awarded as new members at the recent event.

In a bid to further expand the GSPP network, the Global Service Provider Council announced during the event to jointly establish the Go-Global Service Alliance with the Malaysian Chamber of Commerce and Industry in China, Shanghai Automotive Parts Industry Association, Shanghai Producer Services Promotion Association, Shanghai MedValley industrial park and Beijing-based risk warning agency ICOER.

Since the GSPP was initiated in 2019, Jing’an District has attracted a large number of high-level global service organizations.

The district, as a core cluster area of Shanghai’s professional service industry, hosts 39 out of 187 well-known professional service institutions worldwide, covering multiple fields including advertising, law, accounting, human resources and others.

A diversified professional service ecology has been formed in the district, driving a continuous increase in the number of regional headquarters of multinational companies and steady growth in foreign-related economic tax income.

Original link: https://en.imsilkroad.com/p/343321.html

Photo – https://mma.prnewswire.com/media/2568997/image.jpg

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Xinhua Silk Road: Wuxi Economic Development Zone makes efforts to optimize business environment

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BEIJING, Nov. 28, 2024 /PRNewswire/ — Wuxi Economic Development Zone has been continuously optimizing its business environment by introducing favorable policies and improving services in recent years. 

Founded in 2019, the zone continues to build a “4+3+X” modern industrial system, featuring four leading industries of advanced manufacturing, integrated circuits, the Internet of Things (IoT), and software and information, three characteristic industries namely headquarters economy, convention and exhibition economy, and high-end trade, and various future-oriented industries such as commercial aerospace, humanoid robots, and artificial intelligence (AI).

Focusing on the modern industrial system, the zone has made efforts in improving a variety of services, such as providing resources and policy support, to deal with the challenges faced by major projects. Therefore, it ensures the smooth launch and early operation of projects by pooling resources across the region, which contributes to a better business environment.

In addition, to foster the growth of emerging industries, the zone has given full play to the role of financing, establishing a number of funds centering around high-end chips, AI, and other sci-tech sectors.

This year, the zone has carried out multiple economic and trade exchange events in Japan, the United States, France and Germany, visited leading enterprises in the fields of AI, robotics, intelligent manufacturing, etc., and promoted in-depth cooperation between the zone and other countries in the field of cutting-edge science and technology.

Wuxi Economic Development Zone has made significant breakthroughs in attracting investment in recent years, introducing major projects such as the State Power Investment Corporation’s energy storage project and Minospace’s satellite manufacturing base.

Original link: https://en.imsilkroad.com/p/343326.html

Photo – https://mma.prnewswire.com/media/2569184/Wuxi_Economic_Development_Zone_makes_efforts_to_optimize_business_environment.jpg

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Shenzhen Brands: Made in China, Innovated in China, and Quality-Driven in China

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BEIJING, Nov. 28, 2024 /PRNewswire/ –A news report from China.org.cn on China’s Shenzhen:

In September, Huawei unveiled the world’s first tri-fold smartphone for commercial use. With reactions like “So cool!” and “Amazing technology!” flooding social media, unboxing videos and reviews of this new device went viral across platforms worldwide.

The common turf that has nurtured the impressive brands like Huawei,BYD, and Mindray, is China’s Shenzhen. As a testing ground for China’s reform and opening-up, this city continues to be a fertile field for high-quality brand names to date. But how has it done this?

Most importantly, from my standpoint, Shenzhen holds itself to a religiously high standard when it comes to quality. Cognizant that quality represents the foundation of any brand, the city has entrenched its “quality first” philosophy across economic, social, and environmental facets.

Additionally, Shenzhen has aligned itself keenly with global development trends. Jiang Qingyun, Fudan University Professor observes that China has a unique edge in green industries like new energy and new materials, and that future “Made in China” products will embody the philosophies of “low carbon, environmental sustainability, and green innovation.” Shenzhen has already begun moving in this direction. Electric vehicles, lithium batteries, and solar cells—the “new trio”—are gradually becoming staples in Shenzhen’s exports.

Lastly, Shenzhen’s open, inclusive, and innovation-driven environment has been instrumental. Since the early days of reform and opening-up, adaptability and breakthrough innovations have been woven into the fabric of the city. By refraining from over-regulation, welcoming new ideas and supporting R&D, Shenzhen has created an equal playing field that makes businesses sufficiently willing, daring and able to innovate.

In over 40 years, Shenzhen has transformed from a “small fishing village” to the “capital of Chinese brands,” now home to 11 Fortune Global 500 companies. These companies, along with many other brands home to Shenzhen, are witnesses and contributors to the shift from “Made in China” to “Innovated in China” and “Quality-Driven in China,” pushing Chinese industries up the global value chain.

These brands are the products of Shenzhen’s unique ecosystem, the fruits of innovation in the reform and opening up, and representatives of China’s new quality productive forces. They symbolize the high standards embedded in “Quality in China.”

Video – https://www.youtube.com/watch?v=Ac1XQm5G96A 

Cision View original content:https://www.prnewswire.co.uk/news-releases/shenzhen-brands-made-in-china-innovated-in-china-and-quality-driven-in-china-302318104.html

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