center3, a wholly owned subsidiary of Saudi-based telecom company stc, has entered into a definitive agreement to acquire CMC Networks, a South Africa-based networking solutions provider.
“This acquisition exemplifies our strategic commitment to enter key markets with significant growth potential,” said Fahad Alhajeri, chief executive, center3. “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.”
CMC Networks currently services 51 out of 54 countries in Africa and 12 countries in the Middle East, plus regional hubs in key interconnect locations across Europe, the Americas, and Asia Pacific.
