Corporate Report: Dec. 23

ITC Global selling majority interest
Riverside Partners, a Boston-based private equity firm, has entered into an agreement to acquire a majority equity interest in St. Petersburg-based satellite communications services company ITC Global.

As part of the transaction, Riverside Partners will also provide the company with “significant capital” to support ITC's future growth initiatives.

ITC Global provides enterprise-grade satellite communications services particularly to mining, energy and maritime businesses operating in remote or harsh environments. ITC Global maintains facilities across the Americas, Europe, Asia, Australia and Africa and network operations centers in St. Petersburg; Harahan, La.; and Perth, Western Australia.