center3, a wholly-owned subsidiary of the stc Group, has acquired CMC Networks, a leading global service provider specializing in cutting-edge networking solutions across Africa and the Middle East, to boost its growth strategy.
CMC Networks operates an extensive data communications network across more than 110 service locations, known for its cost-effectiveness, scalability, and resilience. With the largest pan-African network spanning 51 out of 54 countries in Africa and 12 countries in the Middle East, along with strategic hubs in Europe, the Americas, and Asia Pacific, CMC Networks has established itself as a key player in the industry.
This strategic acquisition aligns seamlessly with center3’s vision for growth and expansion in the dynamic markets of the Middle East and Africa. It represents a pivotal step in center3’s journey to fortify its market presence and enrich its offerings in these rapidly growing regions.
The acquisition of CMC Networks is from the Carlyle Sub-Saharan Africa Fund (“CSSAF”). CSSAF’s team, forming Alterra Capital Partners in 2020, continues to provide advisory support for CSSAF’s investments, including CMC Networks.
Fahad AlHajeri, CEO at center3, expressed his enthusiasm, stating, “This acquisition is a landmark moment for center3. CMC’s enviable global footprint, high value customer base and portfolio of capabilities is very complementary to center3’s digital infrastructure and connectivity assets. This acquisition exemplifies our strategic commitment to enter key markets with significant growth potential. Our previous investment in 2Africa Cable, coupled with this acquisition, underscores our conviction in Africa’s essential role in center3’s future growth. We are excited about the possibilities that CMC Networks will bring including its wealth of knowledge, capability in the African region and promising growth in the Middle East.”
Marisa Trisolino, Group CEO of CMC Networks, shared her excitement, stating, “Joining forces with center3 is a thrilling development for us. We share a common vision of further expanding in the African market and together we will be able to achieve more, innovate further, and deliver enhanced value to our customers. This acquisition will bring together the strengths of both companies, fostering innovation, enhancing customer service, and providing new opportunities for growth in the African and the Middle East market. We are excited about the future and the opportunities that this acquisition will unlock for CMC Networks.”
Eric Kump, Partner at Alterra, expressed his enthusiasm, stating, “This acquisition is a fantastic opportunity to bring together the dynamic teams at center3 and CMC Networks.”
