TULSA, Okla. -- (BUSINESS WIRE) -- SageNet, a provider of managed network services for multisite 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 U.S., Alaska, Hawaii, Puerto Rico, the U.S. 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.