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Huntsman Family Investments (HFI) and its affiliates announced this week they have entered into an agreement to acquire GTA TeleGuam, a leading telecommunications operator providing internet, wireless, advanced digital TV, local and long-distance telephone service and carrier-class data circuits in Guam.
Utah-based HFI, with funds serviced by Advantage Partners, a Japanese private equity firm, expects to close the transaction, subject to federal and Guam regulatory approvals, later this year. Financial terms were not disclosed.
"This transaction represents our first investment in Guam and we are excited to be associated with the premier provider of telecommunications services on the island. We are committed to ensuring our customers have the highest-quality experience," Paul Huntsman, president and CEO of HFI, said in a news release. Huntsman also owns The Salt Lake Tribune.
GTA, under the deal, would continue to be locally managed and operated.
"Advantage Partners has been an exceptional partner over the last five years, by providing GTA with the necessary resources to transform into a full communications service provider and greatly enhancing our high-speed wireless and in home internet and TV experience for our customers," Robert Haulbrook, GTA president and CEO, said is a news release. "I am pleased that Advantage Partners has identified Huntsman Family Investments as the right new investor for GTA."
GTA is also a part of a consortium of U.S. and Asian telecommunications companies that are constructing SEA-US, a new submarine cable system to connect Southeast Asia and the United States via Guam.
Recently, HFI acquired American Pacific Corporation, which supplies rocket-grade ammonium perchlorate used in rockets and missiles utilized by the Department of Defense and NASA.
"Guam plays a critical role in representing our country's interests in the Pacific and maintaining the integrity of our nation's security initiatives in the region," Benjamin Wu, partner at HFI, said in a news release. "Following our investment in American Pacific Corporation, our investment in GTA allows us to continue our broader mission in supporting our military.
"Furthermore, Guam is a gateway between Asia and the U.S. and it is crucial that we continue building GTA's network infrastructure to meet our customers' growing demand for secure international connectivity."