Business
Anuvu, AT&T Complete Transaction For Wireless Maritime Services to Become Independent Platform
Story Highlights
Anuvu and AT&T completed the sale of Wireless Maritime Services to CCP Capital Strategies, a private equity investment firm.
WMS provides maritime cellular networks enabling secure, high-performance connectivity at sea. WMS’ existing management team will continue to lead the business, which will now operate as an independent platform. The company was formed in 2005 and is headquartered in Miramar, Florida.
“This transaction is an important milestone for WMS, and we’re excited to partner with CCP to continue to deliver and innovate our best-in-class wireless offerings,” said Pramod Arora, WMS President & CEO. “Our focus will remain on our customers, employees and partners as we commence this new and exciting phase for WMS.”
“We’ve been close to the WMS story since 2006 when the company pioneered the maritime cellular market and we’re thrilled to partner with this team as the business transitions to be an independent platform,” said CCP Managing Partner David Collier. “WMS’ market leadership positions it well to address a rapidly expanding opportunity for specialized wireless connectivity solutions.”
“The sale of WMS is part of our overall strategic plan to focus our portfolio,” said Josh Marks, Anuvu CEO. “The proceeds from this transaction will allow us to invest in future growth opportunities and continue to deliver best-in-class connectivity solutions for our clients.”
“We deeply appreciate the contributions of WMS employees and wish them continued success in this new venture,” Marks added. “We believe this transaction represents a significant positive outcome for all the parties.”
Moore & Van Allen and Morgan, Lewis and Bockius served as legal counsel to CCP.
