Center3 to acquire CMC Networks

STC Group subsidiary Center3 has now agreed to acquire CMC Networks, a global service provider offering networking solutions across Africa and the Middle East, though terms of this agreement have not been shared.

Fahad Alhajeri, CEO of Center3, said, "This acquisition is a landmark moment for Center3. CMC’s enviable global footprint, high-value customer base, and portfolio of capabilities are complementary to Center3’s digital infrastructure and connectivity assets. This acquisition exemplifies our strategic commitment to enter key markets with significant growth potential. Our previous investment in the 2Africa Cable, coupled with this acquisition, underscores our conviction in Africa's essential role in Center3's future growth. We are excited about the possibilities that CMC Networks will bring including its wealth of knowledge, capability in the African region, and promising growth in the Middle East.”

Felix Mutati, minister of science and technology, added that this project that will be based in the Lusaka South Multi-Facility Economic Zone. He said in a statement, "This significant development marks a pivotal step towards reinforcing Zambia's digital infrastructure and fostering innovation in the region.”