[Via Satellite 08-23-13] SageNet <\/b>will pay approximately $16 million to acquire <\/b>one of its larger competitors, Spacenet, <\/b>a subsidiary of Gilat Satellite Networks<\/b>. With the sale, Gilat expects to strengthen its strategic focus as a satellite communications technology company, and SageNet hopes to push its revenue to more than $100 million a year.<\/p>\n
\u201cThe strategic value of the Spacenet acquisition is the addition of a very talented management team and highly technical workforce, stellar customer relationships, a complementary product\/service offering and added geographic reach. All of this allows us to add exceptional value to existing customers and the ability to attract new ones,\u201d said Daryl Woodard, CEO at SageNet in an exclusive interview with ViaSatellite<\/i>.<\/p>\n
For Spacenet, which has transitioned over the last few years from primarily a VSAT services company to a managed network services company, the acquisition will serve to increase its position and growth potential in the market. Over the past 32 years, Spacenet has designed, implemented and managed large communications networks for U.S.-based business, industrial and government customers and today manages communications at more than 160,000 locations, according to the company.<\/p>\n
The transaction also brings a potential benefit to its parent company. \u201cThe sale of Spacenet will allow us to better focus our assets and management attention on our core business strategy and strategic target markets,\u201d said Erez Antebi, CEO of Gilat Satellite Networks in a written statement.<\/p>\n
Collectively, SageNet and Spacenet will be able to provide customers a deeper portfolio of products delivered through a much more vigorous combination of terrestrial and satellite solutions. In addition to providing managed Wide Area Networks, SageNet is also heavily invested in other markets such as digital signage, physical security and structured cabling. Spacenet will add services such as satellite connectivity and unified communications to SageNet\u2019s portfolio, according to Woodard.<\/p>\n
\u201cBoth companies have similar philosophies and business goals already in place, and with this merger we will see combined growth opportunities in the managed network marketplace. It\u2019s a tremendous opportunity to capitalize on market opportunities by leveraging each other\u2019s strengths,\u201d Woodard said.<\/p>\n
The acquisition will combine the two companies\u2019 geographic coverage, providing a much greater breadth of service across North America including the continental United States, Alaska, Hawaii, Puerto Rico, the U.S. Virgin Islands and Canada. The combined company will also offer multiple Network Operation Centers (NOCs) across its entire service area to support its monitoring and management offerings.<\/p>\n
The merger is expected to be completed within the next three months and is subject to the satisfaction of customary closing conditions. While the two companies will come together in many ways, they will continue to operate under their respective brand names until the acquisition is completed, according to SageNet.<\/p>\n","protected":false},"excerpt":{"rendered":"
[Via Satellite 08-23-13] SageNet will pay approximately $16 million to acquire one of its larger competitors, Spacenet, a subsidiary of Gilat Satellite Networks. With the sale, Gilat expects to strengthen its strategic focus as a satellite communications technology company, and SageNet hopes to push its revenue to more than $100 million a year. \u201cThe strategic […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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-80268","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/80268"}],"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=80268"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/80268\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=80268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=80268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=80268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}