Delgado unit acquires Micronesian telecom firm
Delgado-owned Pacific Telecom Inc.’s said its Guam subsidiary PTI Pacifica has signed an asset purchase agreement with telecommunications firm IT&E for an undisclosed amount.
The deal, once completed, will make PTI the largest telecommunications company in
The purchase will combine IT&E’s cellular, long distance, Internet and business phone and data solutions in Guam and the Commonwealth of the Northern Marianas Islands (CNMI) with those of PTI, which also provides CDMA and GSM cellular, long distance, data communications and fixed line services.
Pacific Telecom said it expects the deal to be consummated in three to six months.
“This is a winning combination for
PTI provides data communications and long distance services in
“To be the leader means continuously providing customers with the most reliable, cost effective and modern network. We have done just that in the CNMI, and we will follow the same recipe as we expand into
For his part, IT&E president John M. Borlas said he is “comfortable turning the company over to a group with the same values and a long term commitment to the region.
“Sumitomo’s sizeable investment in PTI as a strategic partner clearly is an indication of the confidence it placed on the company. Assuredly, this is a significant factor that played a huge role in our decision to consider PTI, particularly coming from Sumitomo who is one of the largest corporations in
“It was a good fit for PTI and IT&E since geographically there is not a great deal of overlap between the companies. The combined strength of PTI, Sumitomo, and now together with IT&E, is undeniably a superb ingredient poised for success in promoting positive and robust growth for our civilian and military communities. Customers can expect to enjoy newer next generation technologies of products to become immediately more accessible as may be typically seen in
The combined infrastructure and assets will allow PTI to offer the latest technology as well as a wider range of products and services to its customers in
Plans include a complete upgrade of the CDMA wireless platform in
In 2005, PTI purchased Verizon’s
The Delgado family started Islacom which eventually merged into what is now one of the country’s biggest mobile phone business Globe Telecom. The family, however, no longer has a stake in Globe Telecom.
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