MALAGA, Spain—ITS Networks Inc. said that following intense examination, it plans to refocus its investment and expansion strategy and has postponed its acquisition of controlling interests in WestEnd Communications Inc. and 4SiteInternet. The company said it will instead concentrate on continuing to develop its market share in Spain.
“Due to current market conditions, macroeconomic, industry and political, we feel that it is not the right time to embark on an expansion by acquisition plan,” said Frederic Cohen, president of ITS Networks. “We have decided it more prudent to expand our current markets and wait until the global economy and industry show more positive signs of recovery.”
