GTA TeleGuam Completes Ownership Transfer to Advantage Partners

Deal preserves competitive landscape on Guam, local jobs, business as usual

TAMUNING, Guam--(BUSINESS WIRE)-- GTA TeleGuam Friday announced it has completed the previously announced transfer of ownership to a private equity firm that is poised to provide new investments and lead the company through its next growth phase.

GTA TeleGuam’s new owners are funds served by Advantage Partners LLP, (AP Funds), the largest private equity firm in Japan. AP Funds acquired GTA TeleGuam from Shamrock Capital Advisors, a Burbank, California-based private equity firm that privatized GTA from GovGuam in January 2005.

AP Funds intend to retain all GTA TeleGuam employees and its executive operations team. The transaction will be transparent to employees and customers because it is a change of investors rather than an integration of existing operations.

“With Advantage Partners, GTA TeleGuam has a strong and supportive owner that is willing to provide corporate and financial resources needed to successfully lead the company through its next growth phase,” said Dan Moffat, president and CEO of GTA TeleGuam.

“This transaction is good for all stakeholders including customers, employees, investors, and the island of Guam because it preserves the competitive landscape and local jobs,” Moffat said. “Going forward, GTA TeleGuam will operate business as usual with the same employee team.”

GTA TeleGuam closed its financial transaction with AP Funds after securing all necessary government and regulatory approvals from the Guam Public Utilities Commission and the Federal Communications Commission. GTA TeleGuam announced its deal with AP Funds last Nov. 15.

The companies did not disclose financial terms of the private transaction.

“GTA TeleGuam’s record of achievements and success since privatization plus the growth prospects in Guam as a natural communications gateway between Asia and the U.S. mainland attracted Advantage Partners,” said Richard L. Folsom, representative partner at Advantage Partners LLP. “We intend to encourage the GTA TeleGuam management team to keep doing the things that have contributed to the company’s remarkable record of success, including GTA’s deep commitment to the local community.”

GTA TeleGuam has been a key driver for communications competition and innovation in Guam, since privatization from GovGuam.

Consumers and businesses in Guam have benefited from increased competition and innovation. Overall service levels have improved, rates have steadily declined, and carriers have more quickly introduced innovative new products and services such as smartphones and 100 percent digital television based on IP technology.

About GTA TeleGuam

GTA TeleGuam provides complete communications services on Guam. These include local and long-distance telephone service, wireless, DSL Internet access, advanced digital television, or IPTV, and carrier-class data circuits. The company also operates a data center on Guam for offering business data storage and managed wide area networking. Based in Tamuning, Guam, GTA TeleGuam is privately owned and locally managed. Funds served by Advantage Partners LLP, the largest private equity firm in Japan, provide financial backing to GTA TeleGuam. The company’s website is www.gta.net. Phone: 1-671-644-4482.

CONTACT:

GTA TeleGuam
Media Contact:
Cora Yanger Bejado
1-671-644-0106 (o)
1-671-488-2672 (m)
cora@gta.net

KEYWORDS:   Asia Pacific  Australia/Oceania  Guam  Japan

INDUSTRY KEYWORDS:   Technology  Data Management  Internet  Networks  Software  Audio/Video  Telecommunications  Other Technology  Satellite  Mobile/Wireless  VoIP

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