South African mobile operator Vodacom has acquired Gateway Communications, an independent provider of carrier and business network solutions in Africa. It was announced at the end of August that Vodacom would pay USD675 million for the carrier and business solutions segment of Gateway Communications plus a makewhole payment of approximately USD25 million in relation to Gateway’s high-yield bond.
Peter Gbedemah, CEO of Gateway Communications said it, ‘will continue to be an independently managed company,’ adding, ‘there will be no change to the company name, brand and products’.
Vodacom’s CEO designate Pieter Uys said the purchase ‘will enhance our position with multinational corporations and give us further exposure to Africa’s significant growth potential in business services and connectivity’.
Gateway currently serves customers in over 40 African countries and connects over 583 million people on its network across the continent.