In 2008, Dahabshiil Group acquired a majority stake in Somtel Network, a Hargeisa-based telecommunications firm specialising in high speed broadband, mobile internet, LTE services, mobile money transfer and mobile phone services. The acquisition provided Dahabshiil with the necessary platform for a subsequent expansion into mobile banking, a growth industry in the regional banking sector. In 2014, Somalia's three largest telecommunication operators, Hormuud Telecom, NationLink and Somtel, also signed an interconnection agreement. The cooperative deal will see the firms establish the Somali Telecommunication Company (STC), which will allow their mobile clients to communicate across the three networks.