November 28, 2014 (Cable & Wireless Press Release) – Cable & Wireless Communications (CWC) has won the TMT Deal of the Year for the Americas Award (2014) for the acquisition of Grupo Sonitel. Earlier in August, Cable & Wireless Business Solutions through their subsidiary, Cable & Wireless Panama, S.A., acquired the Panama-based Grupo Sonitel for US$36 million plus a contingency sum of US$5 million.
The deal is considered a strategic move by the telecoms business as it brings together Cable & Wireless’ expansive networks, connectivity expertise, and customer scale with Grupo Sonitel’s end-to-end managed services and solutions, designed to create a market-leading proposition for business and government customers. Additionally, with IT services now added to its data and telecoms offering for businesses and governments, this deal has opened the door for CW Business Solutions to enter and serve new markets such as El Salvador, Peru, and Nicaragua.
Laurie Bowen, CEO of Cable & Wireless Business Solutions said: “We are very pleased to receive this recognition that acknowledges our commitment to grow our business and government capabilities in support of the growing needs of our customers. This award is also a testament to the hard work and dedication of our team and their unwavering commitment to better serve our customers.”
The TMT Deal of the Year for the Americas is awarded by the AI Group Media Ltd, conceptualizers of the award and publishers of Acquisition International, The Voice of Corporate Finance, and Deal Feed International – Your Daily M&A. Each year the Awards Committee conducts analyses of the market and identifies prominent players and key deals which are announced around the globe. The committee assessed more than twenty thousand deals covering a wide cross section of sectors and regions. Cable & Wireless Business Solutions’ acquisition of the Panama based “Grupo Sonitel” emerged as the winner of the award in the category of TMT Deal of the Year.
ABOUT CABLE & WIRELESS COMMUNICATIONS (CWC)
Cable & Wireless Communications is a full-service communications business operating in 16 countries throughout the Caribbean and Latin America. We operate four leading Business Units: Cable and Wireless Panama, LIME, (Caribbean excluding The Bahamas), BTC (The Bahamas) and Seychelles. CWC offers mobile, broadband, TV, domestic and international fixed line services in most of our markets. CWC also provides premium data centre hosting, telecoms, managed network services and custom IT Service Solutions to businesses and governments through its new unit, Cable & Wireless Business. CWC is a partner in the largest undersea cable network in the Caribbean and Latin America, spanning more than 42,000 kilometres and serves 42 countries across North, Central and South America and the Caribbean enabling connectivity-based solutions for wholesale and enterprise customers. Our mission is to grow customer relationships and lifetime value by delivering an unparalleled customer experience. We are the market leader in most products we offer and territories we serve. In 2014, the company formed the Cable & Wireless Business Solutions unit to bring the necessary focus to its business and government customers’ needs and to drive the required investment in networks and capabilities. For more information visit www.cwc.com.