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SageNet Expands with Acquisition of Washington D.C. area-based Spacenet®
August 20, 2013
Tulsa, Oklahoma, August 20, 2013 – SageNet, a provider of managed network services for multi-site retail businesses, today announced it has signed a definitive agreement to acquire Spacenet, a communications network company based in the Washington, D.C. area.
Spacenet Inc., a subsidiary of Gilat Satellite Networks Ltd. (Nasdaq: GILT) designs, implements and manages some of the largest communications networks for U.S.-based business, industrial and government customers. The company currently manages communications at more than 160,000 locations for customers, including many Fortune 500 companies and major government agencies.
The merger represents a strategic opportunity for SageNet and Spacenet to combine their respective strengths in innovation and technology to offer industry-leading managed network solutions. Together, SageNet and Spacenet will be able to provide customers a deeper portfolio of products delivered through a much more robust combination of terrestrial and satellite solutions.
“This is a marriage of two exceptional companies with the ideal combination of tools, technology and talent,” said SageNet President Daryl Woodard. “Both firms have a proven track record for network services leadership and expertise, combined with strong commitments to customer service.”
The companies will continue to operate under their respective brand names until the acquisition is completed. The acquisition is expected to close within the next three months and is subject to the satisfaction of customary closing conditions.
According to Woodard, his company’s track record of entrepreneurial success and innovation was a key factor in the negotiations between SageNet and Spacenet. The revenues of the combined companies will exceed $100 million a year.
“Throughout the process, we were able to show that SageNet and Spacenet were a great fit,” he said. “As a private company, we have a culture that encourages agility and allows us to react to customers’ needs quickly. This merger now gives us a strong platform to grow and offer an improved customer experience and even broader depth of industry-leading solutions.”
Spacenet CEO Glenn Katz agreed. “We believe this is a great fit at the right time that will provide added value not only for our organizations, but more importantly, for our customers.”
Woodard said he believes the combined company will continue to enjoy a strong relationship with Gilat as it relates to VSAT technology where satellite communications are required by customers.
According to Woodard, the merger also has the potential to create job opportunities as the merged companies continue to expand.
SageNet (SageNet of Tulsa, LLC) is a leading national technology solutions provider specializing in mission-critical business solutions and managed services. From wide area network (WAN) design and installation to 24x7x365 network monitoring and maintenance, storage solutions and structured cabling services, SageNet is the wise choice for technology solutions. For more information, visit www.sagenet.com or contact Barrett Waller at 918-587-1909.
Based in the Washington, D.C. area, Spacenet manages a self-owned and operated multi-million dollar end-to-end services infrastructure including network management, field services and carrier class teleport facilities in Virginia, Georgia and Illinois, with coverage areas including the continental US, Alaska, Hawaii, Puerto Rico, the US Virgin Islands, and Canada. Utilizing nearly 30 years of industry leading experience, Spacenet serves more than 160,000 customer locations. For more information, visit www.spacenet.com
About Gilat Satellite Networks Ltd.
Gilat Satellite Networks Ltd (NASDAQ, TASE: GILT) is a leading provider of products and services for satellite-based broadband communications. Gilat develops and markets a wide range of high-performance satellite ground segment equipment and VSATs, with an increasing focus on the consumer and Ka-band market. In addition, Gilat enables mobile SOTM (Satellite-on-the-Move) solutions providing low-profile antennas, next generation solid-state power amplifiers and modems. Gilat also provides managed network and satellite-based services for rural telephony and Internet access via its subsidiaries in the United States, Peru and Colombia.
With over 25 years of experience, and over a million products shipped to more than 85 countries, Gilat has provided enterprises, service providers and operators with efficient and reliable satellite-based connectivity solutions, including cellular backhaul, banking, retail, e-government and rural communication networks. Gilat also enables leading defense, public security and news organizations to implement advanced, on-the-move tactical communications on board their land, air and sea fleets using Gilat's high-performance SOTM solutions. For more information, please visit us at www.gilat.com
Spacenet Media Contact:
Rosemary Blum, Spacenet Inc.
Phone: (703) 245-6415
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