With many of its goals achieved to privatize and transform GTA TeleGuam into a private multi-service wireless and wireline service provider, Shamrock Capital Advisors has sold its stake in the service provider to Advantage Partners.
Under the terms of the agreement, AP TeleGuam Holdings, Inc., an investment vehicle formed by funds served by Advantage Partners (AP Funds) will acquire GTA TeleGuam from Shamrock Capital Advisors. Neither Advantage Partners nor GTA TeleGuam disclosed the terms of the deal.
GTA TeleGuam, which was a former state-run service provider service provider monopoly, will celebrate its sixth year as a private company this January. Since becoming private in 2005, GTA TeleGuam went from being a voice-only service provider to one that provides a mix of GSM-based wireless services, wireline broadband (both DSL and increasingly Fiber to the home) and IPTV.
Although GTA TeleGuam will have a new owner, the day to day operations--including the current management team--will be left untouched. Current GTA TeleGuam president and CEO Dan Moffat will continue to run the company. Likewise, other members of the executive team will remain in their current roles.
Advantage Partners said in a statement what made GTA TeleGuam an attractive purchase was that they are "entering a new growth phase with the economic rise in Asia and pending military buildup" from the transfer of a major Marine base from Okinawa to Guam. In preparation for that event--one that will increase Guam's population by an estimated 50 percent--GTA TeleGuam has been building up its telecom network infrastructure.
- see the release
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