Telecom M&A Activity Is on the Rise
It looks like 2017 will be another big year for mergers and acquisitions in the telecommunications industry. According to Moody’s Investors Service, M&A activity among telecommunications companies will continue as businesses enhance their compete levels and increase market share. As often happens, there is a changing of the guard when a company is acquired by a well-capitalized purchaser.
This week, for example, Xtera, a subsea fiber optic solutions provider that was recently acquired by H.I.G. Capital, announced the establishment of a new leadership team to advance the organization’s internal governance.
Moving forward, the following executives will be overseeing Xtera:
- Douglas Umbers, Chief Executive Officer
- Keith Henderson, Founder and Chief Operating Officer
- Stuart Barnes, Chairman and Chief Strategy Officer
- Robert Richardson, Founder and Chief Sales Officer
- Jayesh Pankhania, Chief Financial Officer
A seasoned leader with an impressive background in multiple senior roles across a range of different industries, Mr. Umbers has held an excellent track record serving businesses for over two decades. In his most recent role, Mr. Umbers held Executive Board level roles at VT Group plc (which is now Babcock International), where he ran the IT and communications division. He also served as COO at Arqiva Ltd, which is the U.K.’s telecommunications and broadcast infrastructure group. As CEO of Xtera, he will play an instrumental role in helping the company become a major player in the subsea communications industry.
Mr. Pankhania brings to the table more than 25 years of experience in senior finance. As Xtera’s new CFO, he will be able to draw from his experience in multiple senior roles at public and private organizations. Mr. Pankhania rapidly rose to the position of CFO at HOC Group and Asia Resource Minerals PLC. At Xtera, he will oversee the company’s capital structure and will work to maintain its strong financial standing.
Dr. Barnes, Mr. Umbers and Mr. Pankhania are based in Xtera’s Harold Wood office, which is near London. Mr. Henderson is based in Allen, Texas and Mr. Richardson is located in Peachtree Corners, Georgia near Atlanta.
“We have been working assiduously behind the scenes to assemble an exceptional executive team that will lead Xtera toward growth and success,” said Dr. Barnes. “I am very excited to welcome Doug and Jayesh to our new executive team, and look forward to providing enhanced support for our engineering, sales and operations teams with dedicated leadership.”
This new executive team is supported by Xtera’s highly-experienced senior management officials, including Senior Vice President Turnkey Systems Joerg Schwartz and Chief Technology Officer Tony Frisch.
To learn more about Xtera, click here.