Elara Communications

Jul 31, 2015

31 Jul 2015 Northgate Capital has picked up a majority stake in Latin American satellite telecommunications business Elara Communications which could see it invest up to $38m in the company. Elara allows clients to send and receive voice and bulk data, and provides Wi-Fi and mobile phone connectivity in regions where traditional terrestrial communications is neither accessible nor feasible. Its targets includes fixed-line and mobile carriers, governments and diverse industries such as oil and gas. Northgate principal Gabriel Mizrahi said, “Mexico and Latin America are in the need of increased connectivity solutions both on the public and private sectors. “The increased need for connectivity services, coupled with innovative cost-effective satellite technologies, makes the current market conditions very attractive to continue expanding Elara’s business offering. “We are enthusiastic about this partnership with Elara and look forward to developing a successful and socially responsible story in the following years.” Northgate has gathered more than $5bn in committed capital since it was founded in 2001. The firm closed its previous fund in 2012 with $275m of commitments. Copyright © 2015 AltAssets