CCP Capital Strategies LLC, a private equity investment firm, announced that a newly formed CCP affiliate has acquired 100 percent of the stock of Wireless Maritime Services, LLC from AT&T and Anuvu. Formed in 2005 and headquartered in Miramar, Florida, WMS provides maritime cellular networks enabling secure, high-performance connectivity at sea. WMS’ existing management team will continue to lead to the business, which will now operate as an independent platform.
“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. Our focus will remain on our customers, employees and partners as we commence this new and exciting phase for WMS,” said Pramod Arora, WMS President & CEO.
“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 David Collier, CCP’s Managing Partner. “WMS’ market leadership positions it well to address a rapidly expanding opportunity for specialized wireless connectivity solutions.”
Moore & Van Allen and Morgan, Lewis and Bockius served as legal counsel to CCP. Drake Star Partners served as the exclusive financial advisor to AT&T and Anuvu. Kilpatrick Townsend & Stockton LLP and Wiley Rein LLP served as legal counsel to AT&T. Weil, Gotshal & Manges LLP served as legal counsel to Anuvu. Terms of the transaction were not disclosed.