Panasonic Avionics to focus on aviation as it sells ITC to Marlink - Runway Girl
Inflight entertainment and connectivity giant Panasonic Avionics is pulling out of the maritime, energy and enterprise satellite communications business. Less than six years after acquiring ITC Global, the Lake Forest, California-based firm today announced it is selling 100% of the unit to Marlink Group, which is backed by private equity firm Apax Partners (France). The move is part of Panasonic Avionics’ “long-term strategy” to focus on supporting the aviation market rather than diversifying across sector verticals, a Panasonic Avionics spokesman tells Runway Girl Network. “ITC Globa...
Source: runwaygirlnetwork.com