ITC Global Marks First Quarter Growth by Closing More Than $30M in New Service Contracts and Deploying 27 High-end Satellite Networks
HOUSTON, May 6, 2014 /PRNewswire/ -- ITC Global, a leading provider of satellite communications to remote and harsh environments announced today that it completed a successful first quarter, signing over $30M in new long-term service contracts. The sales come from several new customers, as well as renewals and upgrades from existing clients. The first three months of the year also marked the successful deployment of 27 custom networks for clients across all three of the company's primary markets – energy, mining, and maritime.
More than half of the new sales come from the offshore energy market, ITC Global's fastest growing segment, and serve customers in the Gulf of Mexico, the North Sea, and West Africa. The deployments include complete networks connecting offshore facilities to operations centers, as well as new quick deployment systems for shorter duration projects. One network deployment in West Africa included the installation of two large scale 4.8 meter earth stations at local shore bases, and a significant upgrade to 15 existing offshore satellite terminals. The complex upgrade was closely coordinated with the customer, enabling a flawless switch-over with less than 30 minutes of network downtime.
The first quarter also marked the launch of an upgraded version of the company's quick deployment 1.4 meter stabilized antenna skid system, a turn-key package designed exclusively for short-term satellite communications for offshore oil rigs and support vessels. The first new system was deployed to a customer in less than 48 hours from the time of order.
"We are very pleased with the vote of confidence we are receiving from the market, from both new customers, as well as long standing clients," said Joe Spytek, Chief Executive Officer. "Our strategic plan calls for significantly increasing our market presence by offering an alternative choice in satellite communications backed by a premier level of customer service. Our precise execution of complex system deployments and quick turn-around of short-term customer orders are testaments to our commitment to serve even the most demanding client requirements."
With nearly 1,500 remote sites deployed across 60 countries and all the world's oceans, ITC Global is the market leader in satellite communications to the mining industry, and holds the third largest share in the offshore oil and gas market. Combined with local offices and deployed personnel in nearly 40 countries, services on over 30 satellites, and more than 20 teleport interconnections, ITC Global has firmly established itself among the top 3 global service providers for satellite communications to remote industrial markets.
About ITC Global
ITC Global is the world's largest privately-owned satellite communications provider exclusively focused on mission critical operations in the energy, mining, and maritime markets. Companies in remote and harsh environments require communications with both global coverage and unwavering customer service. ITC Global enables improved real-time decision making and enhanced health, safety and environmental management through a unified communications solution, tailored to the requirements of each client. Solutions include custom network design, hardware implementation, field engineering, technical support and enterprise-grade satellite bandwidth. ITC Global operates 24 x 7 carrier-class networks across the Americas, Europe, Asia, Africa and Australia. ITC Global is a portfolio company of Boston based private equity firm Riverside Partners. For more information, please visit www.itcglobal.com.
SOURCE ITC Global