stc Group subsidiary centre3 is acquiring CMC Networks, a global service provider offering networking solutions across Africa and the Middle East.
CMC Networks operates across more than 110 service locations with a cost-effective, scalable, and resilient data communications network. It 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.
The acquisition aligns with center3’s strategic vision for growth and expansion in the Middle East and African markets. It represents a significant step in the company’s journey to extend its market presence and enhance its offerings in this dynamic and rapidly growing region.
CMC Networks is being acquired from the Carlyle Sub-Saharan Africa Fund (CSSAF). In 2020, the CSSAF team formed a separate private equity firm, Alterra Capital Partners, which continues to advise CSSAF’s investments including CMC Networks.
Fahad Alhajeri, CEO at center3, said: "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.”
Marisa Trisolino, Group CEO of CMC Networks, said: "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.”
The acquisition is subject to customary conditions and approvals.