Acquisition accelerates Growth of UNIFI’s Global Carrier Business
The acquisitions continue in 2016! Today, UNIFI Communications, Inc., a leading US-based international telecommunications carrier, announced it has acquired 100% of WIS Telecom S.p.A. and its subsidiary, WIS Telecom S.A., from Libero Acquisition S.a.r.l., an investment vehicle of Orascom TMT Investments S.à r.l. (“OTMTI”), majority-owned by Mr. Naguib Sawris of Cairo, Egypt.
“This acquisition will be highly synergistic for us,” said Adrian Shatku, UNIFI’s founder and CEO, “because UNIFI and WIS have similar core businesses, networks, geographic compliments and customers, and combining the two will expand our footprint, yield operating cost savings and enable provision of higher quality services to the wholesale voice market. Overall, it will greatly accelerate the growth of our business.”
Mr. Shatku noted that WIS is ranked by Telegeography as the 15th largest international carrier worldwide, the company offers a comprehensive portfolio of international voice, data and IP solutions to meet the needs of both fixed and mobile operators, on a network that includes more than 150 interconnections with mobile operators and Tier-1 carriers in 70 countries. WIS services are supported by an international backbone connecting voice switches to the major telehouses in the United States, United Kingdom, Hong Kong, Italy, Greece, Germany, France and Belgium. WIS also owns a submarine cable between Italy and Greece.
“This transaction comes as part of our strategy to divest non-core assets and consolidate our operations within our new areas of focus. After the merger with Vimplecom, our business has shifted from voice and mobile communication and related operations to focus on technology and online solutions,” commented Naguib Sawiris on this move. He added, “I am delighted to have the opportunity to transfer ownership of WIS to a company such as UNIFI who will help WIS achieve its full potential while taking good care of its employees and customers, and I look forward to continuing a strong business relationship with UNIFI and Mr. Shatku in the future.”
Read full release here.