Thursday, April 19, 2007

BT to acquire Comsat, Boosting its Latin American Presence

BT agreed to acquire Comsat International, a leading provider of data communication services for corporations and public sector organizations in Latin America, for an undisclosed sum.

Comsat International operates a fiber-based core network interconnecting the United States, Argentina, Brazil, Costa Rica Colombia, Dominican Republic, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Peru, Venezuela and Turkey.

Comsat International employs over 700 professionals with in-depth knowledge of Latin American markets and provides services directly in 15 countries.

As at the last audited balance sheet on 31 December 2005, the gross assets of Comsat International were $145 million.

Recently, Comsat has also been bidding for and acquiring WiMAX licenses throughout the region.

  • Comsat International traces its roots back to the early 1960s, when Comsat Corporation was created when President John F. Kennedy signed the Communications Satellite Act and paved the way for the formation of the first commercial enterprise dedicated to satellite communications. In the 1980's, Comsat International was formed as a subsidiary of Comsat Corp. to provide international communications services to major enterprises and other high end customers.

See also