Pacific telco IT&E – whose backers include Philippines-based Citadel Holdings and South Korea’s SK Telecom – has confirmed that it has acquired local rival iConnect. Both IT&E and iConnect are currently operational on both Guam and the Northern Mariana Islands. The value of the takeover has not been disclosed.
The deal was signed on 22 September 2020, and the 90-day transition of all iConnect post-paid and pre-paid subscribers to IT&E commenced on 1 October. During the transition period, iConnect will continue to operate its networks (including iDEN services) and retail locations.
Rene C. Lao, CFO of iConnect, commented: ‘Upon completion of the customer migration, iConnect customers will start to reap the benefits of IT&E’s advanced network and innovative capabilities in Guam and the CNMI and will further enjoy the advances of ITE’s 5G network upon rollout.’