Gilat Completes Acquisition of DataPath, Inc.
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.”