Global Invacom Group Limited (Global Invacom) announced today the completion of its acquisition of Israel-based satellite equipment provider OnePath Networks Ltd (OnePath) for US$3.5 million.
The SGX-listed Satellite Communications (Sat Comms) equipment company said that this acquisition will enable the company to gain new technologies, expand market reach and grow its network of broadcasters.
OnePath - trading as Foxcom - provides products and services to major satellite operators, teleports and broadcasters in over 35 countries.
Leveraging on Foxcom's U.S.-based sales teams, its customer base in North and South America, and its network in the military sector, Global Invacom said that it will expand its footprint in existing and new geographies while entering new product markets as demand for Sat Comms equipment grows.
Commenting on the acquisition, Tony Taylor, CEO of Global Invacom, said: "Foxcom adds a strong suite of complimentary capabilities which will enhance our value proposition as an integrated Sat Comms equipment designer and manufacturer, and will open up a new range of global customers. I am delighted to welcome the Foxcom team into the Group."
Global Invacom has commenced the integration of Foxcom, which will continue to maintain its presence in Israel.
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