Panasonic Completes ITC Global Acquisition
Lake Forrest, Calif, August 7, 2015--Panasonic Corporation today announced that it has completed its acquisition of ITC Global, a leading provider of satellite communication services for the energy, mining, and maritime markets.
Founded in 2001 with regional headquarters in Houston, Texas; Sion, Switzerland; and Perth, Australia, ITC Global serves customers at more than 1,200 remote sites across 70 countries and all the world's oceans. Panasonic, through its subsidiary Panasonic Avionics Corporation, is a leading provider of inflight communications and entertainment systems to the aviation market.
Paul Margis, President and Chief Executive Officer of Panasonic Avionics said, "We are extremely pleased to have completed the acquisition of ITC Global. Together, we will set a new standard in global satellite services by delivering robust entertainment and business critical communications solutions to the energy, mining, maritime and aviation markets."
As a result of this transaction, ITC Global becomes "ITC Global, A Panasonic Company" and will operate as an independent unit of Panasonic Avionics. The ITC Global management team will remain in place and will continue to focus on its customers in the energy, mining, and maritime markets, while Panasonic Avionics will remain dedicated to its customers in the aviation market.
Panasonic Avionics Corporation is one of the world's leading supplier of inflight entertainment and communication systems. Established in 1979, Panasonic Avionics Corporation, a U.S. corporation, is a subsidiary of Panasonic Corporation of North America, the principal North American subsidiary of Panasonic Corporation. Headquartered in Lake Forest, California with over 4,100 employees and operations in 80 locations worldwide, it serves over 200 customers worldwide and provides IFEC systems on over 6,000 aircraft.
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