Sean Corkery, chairman and CEO, Actavo
Actavo announces a new deal that will boost firm’s networks and fibre optics expertise globally.
Actavo, an international engineering solutions company headquartered in Dublin, has announced that it has acquired a key division of US company, Atlantic Engineering Group. The deal, for an undisclosed amount, represents Actavo’s first acquisition in the US. And as a result of the transaction, Actavo now has extensive in-house expertise in the United States, with access to 120 network design engineers.
Aside from enhancing Actavo’s service provision to its existing client base in Ireland, the UK, the Caribbean and Kazakhstan, it will also enable the company to establish a presence in strategic markets especially across the US. Later this year, fibre-to-the-home penetration in the US will be at 9%, with 27.9 million homes passed and 12.4 million homes connected. It is forecast that, by September 2019, total homes passed in the US will almost double to 52 million, with the number of homes connected almost doubling to 24 million.
Speaking after the conclusion of the deal, CEO of Actavo Network & In-Home Division, TJ Malone, said: “This is a red letter day in Actavo’s evolution. Our division began with operations in Ireland, before expanding into the UK and the Caribbean. With this acquisition now forming a critical strand of our international, end-to-end capabilities, we are confident of establishing a formidable presence in North America and making significant strides globally in the design, build and connectivity of fibre optic networks.”
Commenting on the acquisition, James Salter, president, Atlantic Engineering Group, added: “This is an exciting and transformative development for us. Being acquired by Actavo, an international company takes our business to a new level in terms of global connectivity, exposure to new business prospects and growth potential. Actavo’s mission is to become the preferred engineering solutions partner for the world’s leading companies. We can be proud of now being an integral part of that mission, and we can look forward to working within Actavo into the future.”
Welcoming the announcement, chairman and CEO of Actavo, Sean Corkery said: “Actavo’s acquisition represents a significant and strategic milestone in our company’s growth plan. The US is an important, dynamic market for us – we see strong demand in North America for the telecommunications solutions we can now offer. This is a logical next step for us at this time and takes Actavo into new areas, both geographically and in terms of our customer proposition.”