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Panama : CABLE & WIRELESS PANAMA buys GRUPO SONITEL for $36 MILLION [TendersInfo (India)]
[August 29, 2014]

Panama : CABLE & WIRELESS PANAMA buys GRUPO SONITEL for $36 MILLION [TendersInfo (India)]


(TendersInfo (India) Via Acquire Media NewsEdge) Cable & Wireless Panama, S. A. (CWP), a unit of Cable & Wireless Communications PLC (CWC.L) announced the acquisition of Panama-based Grupo Sonitel for $36 million plus a contingent consideration of up to an additional $5 million.



This transaction is in line with the strategy we outlined in May to grow our business (B2B) and government (B2G) capabilities, said Phil Bentley, CEO of Cable & Wireless Communications, Adding more than 350 IT software and telecoms service engineers to our team will considerably boost our capabilities in this field; and I'm delighted that Julio Speigel F., who has been working with Grupo Sonitel for 20 years and serves as Executive Vice President, has agreed to lead the business.

Grupo Sonitel is a provider of end-to-end managed IT solutions and telecoms services to business and government customers in Panama, as well as in El Salvador, Nicaragua and Peru.


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