Business
Gilat Signs Definitive Agreement to Acquire DataPath, Inc. a Market Leader in Trusted Communications for the US DoD, Military and Government Sectors
The acquisition is another step in Gilat’s initiative to increase its presence in the growing Defense market Gilat expects its annual revenues in the Defense
About this update from Gilat Satellite Networks Ltd.
[{"type":"text","content":"The acquisition is another step in Gilat’s initiative to increase its presence in the growing Defense market Gilat expects its annual revenues in the Defense sector to increase by approximately $50 Million following the closing of the acquisition PETAH TIKVA, Israel, March 09, 2023 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that it has signed a definitive agreement to acquire DataPath, Inc. (DPI), which will be a core component of Gilat’s Defense growth strategy. DataPath is a market leader in trusted communications for the US DoD Military and Government sectors. The acquisition is another step in Gilat's initiative to increase its presence in the growing Defense market. Gilat expects its annual revenues in the Defense sector to increase by approximately $50 Million following the closing of the acquisition. The transaction has been approved by the Gilat board of directors and by DataPath’s board of directors and stockholder. The closing of the transaction is subject to certain regulatory approvals, including the receipt of clearance of the Committee on Foreign Investment in the United States (CFIUS), and other customary closing conditions. The acquisition is expected to close in the third quarter of 2023. DataPath has more than 25 years of experience in integrated communications and information technology and is a market leader in trusted communications systems, services, and end-to-end solutions for mission-critical operations. DataPath is a US based expert systems integrator with a strong focus on the DoD and US government sectors, bringing leading competencies in systems engineering, software development and mechanical engineering. These attributes have enabled DataPath to secure and maintain their continual presence in the provision and sustainment of SatCom systems, such as portable ground stations, and related services. \"DataPath is a leading US integrator providing mission critical solutions and services and is a large provider to the US DoD of transportable hubs, mini-towable hubs, and a portfolio of military-grade portable antenna terminals,\" said Adi Sfadia, Gilat CEO. “The acquisition is a major milestone in Gilat's growth strategy to expand its business into the US DoD and government se...