{"id":79214,"date":"2013-12-04T21:18:49","date_gmt":"2013-12-04T13:18:49","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/gilat-takes-capital-loss-closing-the-sale-of-spacenet-subsidiary\/"},"modified":"2013-12-04T21:18:49","modified_gmt":"2013-12-04T13:18:49","slug":"gilat-takes-capital-loss-closing-the-sale-of-spacenet-subsidiary","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/gilat-takes-capital-loss-closing-the-sale-of-spacenet-subsidiary\/","title":{"rendered":"Gilat Takes Capital Loss Closing the Sale of Spacenet Subsidiary"},"content":{"rendered":"<\/p>\n<p>[Via Satellite 12-04-13] <b>Gilat Satellite Networks<\/b> has completed the sale of its <b>Spacenet<\/b> subsidiary to Tulsa, Oklahoma-based <b>SageNet<\/b>. The aggregate consideration for the sale is approximately $16 million, subject to certain post-closing adjustments and expenses. The transaction, which was closed under the same terms signed in August, is expected to result in a capital loss of $1 million to $3 million, which includes banker\u2019s fees, legal fees and other transaction-related expenses.<\/p>\n<p>As a result of the closing, Gilat has adjusted its management objective targets for 2013 to reflect the exclusion of Spacenet operating results. Revenue for 2013 is expected to be approximately $230 million as compared to $310 million and EBITDA margin is expected to be approximately 7 percent as compared to 6 percent.<\/p>\n<p>SageNet and Spacenet plan to combine their strengths to offer more robust managed network solutions and a larger product offering through both satellite and terrestrial means. Together the companies will continue to sell Gilat products and will share a strategic partnership with Gilat. The combination of overlapping geographic coverage gives SageNet\/Spacenet a much greater breadth of coverage across North America.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[Via Satellite 12-04-13] Gilat Satellite Networks has completed the sale of its Spacenet subsidiary to Tulsa, Oklahoma-based SageNet. The aggregate consideration for the sale is approximately $16 million, subject to certain post-closing adjustments and expenses. The transaction, which was closed under the same terms signed in August, is expected to result in a capital loss [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":79217,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-79214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/79214"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=79214"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/79214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/79217"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=79214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=79214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=79214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}