I am excited to announce that Colt’s acquisition of KVH has now been completed. Colt and KVH are stronger together, able to better serve our customers with seamless solutions on a global basis, in local language to both our Asian and European customers. Now that KVH is part of the Colt family, we’re better equipped to work with organisations in Tokyo, the world’s number one city economy, as well as Singapore, Hong Kong and Seoul. Colt and KVH are a good match. We operate complementary businesses with similar technologies and platforms, business models and product sets. KVH is a growing business, with a solid network and data centre footprint in Asia, a significant customer base and great assets. With the IT industry in Asia growing at 12% each year*, the acquisition of KVH will act as our launch pad for growth in Asia and beyond. We are seeing increasing demand from our customers for network and data centre capabilities in the business hubs of Asia. Many of our European customers have expressed support for our services in Asia and our Asian customers support for our services in Europe. Combining our strengths puts us in a stronger position to serve multi-national customers on a global basis. We now operate in 28 countries across Europe, Asia and in the U.S. with connections into over 200 cities globally and metropolitan area networks in 47 cities. Information intensive industries such as capital markets, financial services, telecoms and media, are set to benefit in particular. To illustrate, capital markets firms are under pressure to do business with more exchange venues, with more and more market participants in established economies as well as emerging countries. Yet, regulatory scrutiny on capital adequacy means that they have to be able to do more with less. Managing connectivity to more and more market participants can be very time consuming. That is why working with one provider like us, that can provide exchange colocation, market data feeds and direct market access across the globe, will save time and money for capital markets firms. Our customers include 400+ capital markets businesses, and some 45% of KVH’s revenue is derived from this sector. Additionally, we work with over half of global financial services and telecom companies and 17 out of the top 25 global media companies**. The combined expertise of Colt and KVH spells great news for businesses in these data driven industries. I look forward to the future, as part of a bigger and stronger Colt family, and the growth opportunities that lie ahead for our customers, employees and shareholders.
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