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Omniglobe Networks EMEA Signs Letter Of Intent To Acquire Sat-Comm Ltd
Published Mar 4, 2010
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OmniGlobe Networks EMEA, a leading supplier of communications equipment and systems for satellite and terrestrial transmissions, announces that effective immediately, it has signed a Letter of Intent ("LOI") to acquire the entire issued share capital and assets of privately-held Sat-Comm Ltd for a combination of cash and ordinary shares in OmniGlobe Networks Inc.
Based in Mildenhall, Suffolk (UK), Sat-Comm provides a comprehensive range of mobile, portable and fixed satellite contribution systems as well as specialist and high value communications systems. Over the past ten years, the company has built a solid reputation for delivering innovative design, quality products and outstanding customer service. It has secured a prominent market position in the satellite broadcast industry with products deployed in over 60 countries across 5 continents.
Since its inception in 2000, Sat-Comm has enjoyed steady and continuous growth. The company now boasts a fully-equipped production and manufacturing facility in the UK and has a worldwide network of distributors to support its continued expansion in Europe and the Middle East. Its experienced team, which comprises technical sales, designers and project managers as well as a highly skilled production staff, has an in-depth understanding of the broadcast market and an impressive track record in designing and delivering high specification mobile broadcast solutions for many high profile customers including Canal +, the BBC and Arqiva.
The agreement between the two companies has come as a result of a two-year fruitful and productive business relationship and reinforces OmniGlobe’s determination to build on its growing success in the broadcast and news gathering market.
“We are very excited about the opportunities that this acquisition provides. Both Sat-Comm and OmniGlobe Networks are industry leaders in their respective fields, and having already worked closely on a number of projects, it is clear that the companies share a technological and customer orientated culture. Combining the operations will ultimately enable us to deliver greater service and products for our customers’ benefit” said David Harper, OmniGlobe EMEA’s Managing Director.
“The opportunity to become part of Omniglobe Networks is an exciting one”, said Tim Williams, Founder and Managing Director of Sat-Comm. “We firmly believe that our strengths in the broadcast contribution market complement perfectly those of Omniglobe in the satellite communications sector, and that cementing our partnership means that we can offer our customers an unparalleled depth of experience in both markets."
“Sat-Comm has been a key partner for our MENOS-certified Satellite News Gathering and our ARABSAT projects and we very much look forward to develop our collaborative relationship with them. The acquisition will allow us to consolidate our presence into European and Middle East markets and further enhance our market position as the leading broadcast systems specialist” added Jason Neale, CEO of OmniGlobe Networks.
Following the acquisition, OmniGlobe intends on increasing its design and production capabilities and accelerating its product roadmap by bringing forward innovative new products and developments whilst streamlining the delivery of its systems and ensuring competitive pricing.
The proposed transaction, which is supported by both boards, is subject to the completion of a normal due diligence process and of a final purchase agreement between the two parties. It is expected to close by mid year.
Sat-Comm founder and controlling shareholder, Tim Williams, will become a minority shareholder in OmniGlobe Networks Inc. and retain his title and role of Managing Director of Sat-Comm Limited. Tim Williams will join the board of OmniGlobe EMEA. Sat-Comm will form part of OmniGlobe’s Europe, Middle East and Africa (EMEA) business managed by David Harper.
Posted by
VMD - [Virtual Marketing Department]
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