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Washington, D.C., August 16 , 2011
—IFC, a member of the World Bank Group, has arranged a $37 million financing package to help Emerging Markets Communications (EMC) expand operations in developing countries, delivering critical communications services to organizations in remote or underdeveloped regions.
EMC provides end-to-end voice, data, and video services to development institutions, nongovernmental organizations, and companies operating in remote regions, conflict zones, and areas where communications infrastructure has been damaged by natural disasters.
EMC’s services are a vital tool for many organizations working in tough or underdeveloped environments with critical needs to communicate and access data efficiently and deliver services to local people. The company provides services in more than 140 countries on all continents with a focus on Africa, Central Asia, and other key emerging-market regions.
“IFC tailored a competitive financing package that will allow us to meet the needs of our customers in a timely and efficient fashion and to keep investing in our unique hybrid— satellite and terrestrial—infrastructure and patented and patent pending technologies,” said EMC’s CEO Abel Avellan. “We consider IFC a key partner and look forward to benefitting from their global knowledge and support as we continue to expand in Africa, Latin America, Central Asia, the Middle East, and other parts of the world.”
IFC is providing EMC with about $20 million in debt and equity financing. Additionally, IFC has arranged for FMO, the development bank of the Netherlands, to provide $17 million in parallel debt and equity financing to EMC. The financing will be used for working capital, growth equity, and to improve the company’s capital structure.
“Access to communication services is a vital part of organizations’ ability to contribute to the economic growth of countries around the world,” said Kent Lupberger, Global Head of IFC Telecommunications, Media, and Technology Investments. “We have a long track record of investing in information and communication services in emerging markets and see this project as an important tool in ensuring that organizations have the access they need to carry out their public and private sector goals.”
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal year 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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About EMC
EMC provides mission-critical, end-to-end communication solutions to governments, nongovernmental organizations and multinational corporations operating in remote regions of the world, as well as providing infrastructure access services for GSM operators, PTTs, and ISP’s globally. EMC’s R&D division owns several unique and highly differentiated patents in the area of bandwidth re-utilization, Satcom on the Move, Video Conferencing distribution and Zero Latency application delivery, including the manufacturing and production. As a vertically integrated service and technology company, EMC’s unified Communications (voice, data, video) customers benefit from EMC’s wholly owned and managed satellite and terrestrial MPLS network. EMC’s unique connectivity and application services (HD Connect™, SpeedNet™ and uCNet™) deliver the best end user experience for corporate applications, voice, video and Internet access. For more information, visit
www.emc-corp.net
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