St. Pete's ITC Global Completes Majority Sale with Riverside Partners

ST PETERSBURG - Riverside Partners, a Boston-based private equity firm, announced today that it received final regulatory approval and has completed its acquisition of a majority equity interest in ITC Global, an international provider of satellite communications services to mining, energy and maritime businesses operating in remote or harsh environments.  ITC Global is headquartered in St Petersburg.  The terms of the transaction, which was previously announced in November 2011, were not disclosed.

ITC Global provides enterprise grade satellite communications services on a global basis.  ITC Global's customers enjoy custom-designed, innovative solutions, including regional and/or global clouds of capacity, hybrid fiber-satellite networks and high-level network engineering. ITC Global maintains facilities across the Americas, Europe, Asia, Australia and Africa, employs a global engineering and technical staff and runs state-of-the-art Network Operations Centers in St Petersburg, Florida, Harahan, Louisiana and Perth, Western Australia.

"We are excited to provide ITC Global with the capital and backing to accelerate its growth in the satellite industry," said Steven F. Kaplan, a General Partner at Riverside Partners.  "ITC Global has a high value-add position in their market, and the Company's presence in the key mining, energy, and maritime verticals positions the Company for significant global expansion.  We look forward to continuing to work with Joe and his team to create meaningful value for ITC Global's customers."