Gilat Completes Acquisition of DataPath, Inc.
16 Novembre 2023 - 1:04PM
Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a
worldwide leader in satellite networking technology, solutions, and
services, announced today that it has completed the acquisition of
DataPath, Inc., a market leader in trusted communications for the
US DoD Military and Government sectors.
The transaction was approved by the Gilat Board
of Directors and by DataPath’s Board of Directors and stockholders
earlier this year, and it has received regulatory approvals,
including the receipt of clearance from the Committee on Foreign
Investment in the United States (CFIUS).
“This acquisition is a strong step ahead in
Gilat’s strategy to increase its presence in the growing defense
market,” said Adi Sfadia, Gilat’s CEO. “With more than 25 years of
experience in serving the US DoD and government sectors, as well as
other government and defense markets, DataPath is the pillar we
have been seeking to rapidly realize Gilat’s strategy. With annual
revenues in the defense sector forecasted to increase by
approximately $50 million, we are building upon the new, strong
synergies enabled by the acquisition, as Gilat’s international
presence will present DataPath with new opportunities for its
advanced solutions, and DataPath’s valued presence in the US will
create new opportunities for Gilat’s advanced communication
technologies in this sector.”
“Together with Gilat, we are well positioned to
offer all of our customers comprehensive integrated solutions built
with best of breed components and technologies,” said David
McDonald, DataPath’s President. “DataPath, now as part of Gilat,
will continue to offer superior solutions, not just within the U.S.
DoD market, but throughout the world. This acquisition’s synergies
enhance Gilat’s and DataPath’s ability to develop solutions for the
rapidly evolving satellite communication market. As the SATCOM
market enters a new space age, our combined resources and
technologies further enhance Gilat’s strategy in the global defense
sector.”
AdvisorsNeedham & Company LLC and Quilty
Analytics LLC are serving as financial advisors to Gilat. Naschitz
Brandes Amir & Co. and Foley and Lardner LLP are acting as
Gilat’s legal counsel. RCBG, headquartered in Chicago, Illinois,
served as exclusive strategic advisor to DataPath, Inc. DLA Piper
LLP and Greenberg Traurig are acting as DataPath’s legal
counsel.
About DataPath® Inc.
DataPath excels in advanced and secure communications solutions
tailored to the unique requirements of defense, aerospace,
broadcast, government, and critical infrastructure clients. Our
solutions include a wide range of field communications and
information technology products, including satellite communication
systems and network management software. All offerings are backed
by 24×7 customer care and global field support. At DataPath we are
passionate about helping our clients achieve mission success. For
more information, visit www.datapath.com.
About Gilat
Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a
leading global provider of satellite-based broadband
communications.
With over 35 years of experience, we create and deliver deep
technology solutions for satellite, ground, and new space
connectivity and provide comprehensive end-to-end solutions and
services powered by our innovative technology. We believe in the
right of all people to be connected and are united in our
resolution to provide communication solutions to all reaches of the
world.
Delivering high-value solutions, our portfolio is comprised of a
cloud-based platform and high performance satellite terminals
designed to work in harmony with satellite constellations,
including Very High Throughput Satellites (VHTS) and
Software-Defined Satellites (SDS) in multiple orbits; high
performance Satellite On-the-Move (SOTM) antennas; and highly
efficient, high-power Solid State Power Amplifiers (SSPA) and Block
Upconverters (BUC).
Gilat’s comprehensive solutions support multiple applications
with a full portfolio of products to address key applications
including broadband access, mobility, cellular backhaul, military,
government, and enterprise, all while meeting the most stringent
service level requirements. For more information, please visit:
www.gilat.com
Certain statements made herein that are not historical are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. The words “estimate”, “project”,
“intend”, “expect”, “believe” and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties. Many
factors could cause the actual results, performance or achievements
of Gilat to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, including, among others, risks
associated with the outbreak and global spread of the coronavirus
(COVID-19) pandemic; changes in general economic and business
conditions, inability to maintain market acceptance to Gilat’s
products, inability to timely develop and introduce new
technologies, products and applications, rapid changes in the
market for Gilat’s products, loss of market share and pressure on
prices resulting from competition, introduction of competing
products by other companies, inability to manage growth and
expansion, loss of key OEM partners, inability to attract and
retain qualified personnel, inability to protect the Company’s
proprietary technology and risks associated with Gilat’s
international operations and its location in Israel, including
related to the current terrorist attacks by Hamas, and the war and
hostilities between Israel and Hamas and Israel and Hezbollah. For
additional information regarding these and other risks and
uncertainties associated with Gilat’s business, reference is made
to Gilat’s reports filed from time to time with the Securities and
Exchange Commission. We undertake no obligation to update or revise
any forward-looking statements for any reason.
Contact:Gilat Satellite NetworksDoreet Oren,
Senior Director Corporate CommunicationsDoreetO@gilat.com
EK Global IREhud Helft, Managing Partnerehud@ekgir.com
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