The Carlyle Group to acquire CMC Networks
25 November 2016
Global Alternative Asset Manager The Carlyle Group has announced that it has agreed to acquire a majority share of CMC Networks, a Pan-African provider of managed connectivity solutions for global telecoms providers.
In an announcement issued to the media Investec Equity Partners, who was represented by Richard Tunstall on CMC's board, stated its intention to sell its stake in the company, and the founder and management team will invest alongside Carlyle.
The transaction is expected to close in the first quarter of 2017, subject to regulatory approval and other conditions. Further terms were not disclosed.
Source: ITWeb 24 November 2016