Business
Boxlight Acquires Sahara Presentation Systems for GBP 74 Million (USD 94.9 Million)
Acquisition includes Clevertouch and Sedao brands and provides geographic expansion, substantial revenue growth, consolidated profitability and global
About this update from Boxlight Corporation
[{"type":"text","content":"\nAcquisition includes Clevertouch and Sedao brands and provides geographic expansion, substantial revenue growth, consolidated profitability and global management talent\n\n LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--\nBoxlight Corporation (Nasdaq: BOXL), a leading provider of interactive technology solutions for the global education market, today announced it has acquired Sahara Presentation Systems PLC, a leader in distributed and manufactured AV solutions.\n\nThe total purchase price was GBP 74,000,000 (approximately USD 94,900,000) in the form of GBP 52,000,000 (approximately USD 66,700,000) cash and GBP 22,000,000 (approximately USD 28,200,000) preferred stock.\n\nHeadquartered in the United Kingdom, Sahara is a leader in distributed AV products and a manufacturer of multi-award winning touchscreens and digital signage products, including the globally renowned Clevertouch and Sedao brands. The company was formed in 1976 by Kevin and Nigel Batley, who grew the company to more than 100 employees with offices worldwide.\n\n“This is an exciting time for the Sahara business, which is trading extremely well, even in the current climate. We welcome the added leadership and solutions from Boxlight as we aim to accelerate our growth in key markets around the world,” stated Kevin Batley, Director at Sahara.\n\n“I am very excited about the journey ahead as we join Boxlight,” stated Mark Starkey, CEO at Sahara. “The global footprint and infrastructure of Boxlight, with their experience in delivering comprehensive education technology solutions, paired with our extensive experience and expertise in AV technology and products, will position us to provide our customers across the world with solutions for advanced and collaborative working environments. We are committed to continue our rapid expansion plans following Sahara’s acquisition by Boxlight.”\n\nMichael Pope, Chairman and CEO at Boxlight added, “I am thrilled to combine the resources of Boxlight and Sahara, two of the most recognized companies in education technology. The Sahara acquisition expands our geographic reach - particularly in the EMEA region, provides significant revenue growth, results in immediate consolidated profitability, and adds tremendous global management talent. We are committed to achieving dramatic growth, both organically and through acquisitions, and we are del...