M-Three Satcom, the Italian based teleport operator founded in 2004 and acquired by Giglio Group in 2015, is set to be acquired by Vertice 360 – the Spanish media company owned by Squirrel Capital. M-Three Satcom will be main part of a wider agreement including the purchase by Vertice of other media assets of Giglio Group as the internationally distributed Nautical Channel and the Italian DTT Lcn 68.
The new company asset and partnership will allow a further development in the international scenario with plans of new POPs and satellite/OB facilities outside of the legacy Italian infrastructure which will yet remain the key asset of the company. Plans for 2019-21 includes a further diversification in the teleport based services with new video and data platforms and additional investments in the Outside Broadcast division.
Michele Magnifichi, co-founder of M-Three Satcom in 2004 and manager of the company – will continue to head the company in this new phase as M3 CEO and will report to Vertice Board for the group related activities.
The spin off and transition process will end in H1 2019.