Private equity heading to satellite telecom & world wide web . . . in Israe
Posted by: admin in Engagements and Deals NewsFiled under: Deals, Shareholders, Public or private?
Gilat Satellite Networks (NASDAQ: GILT) is being acquired for $11.40 per share. The all-cash offer is from an American and Israeli investment group comprised of The Gores Group LLC, Mivtach Shamir Holdings Ltd., companies affiliated with Roy Ben-Yami, Ami Lustig and Eytan Stibbe and DGB Investments.
This transaction is valued at approximately $475 million and this is a definitive merger agreement. This satellite communications operator sells to all forms of customers in remote residential areas for telecom and internet, and sells to government and corporate clients for hybrid IP-based communications in its VSAT network.
Gilat has been a fairly quiet stock that has traded as low as $7.88 and as high as $11.34 over the last year.
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