British satcoms equipment maker Global Invacom has bought Israeli satellite services specialist OnePath Networks for US$3.5m to expand its international reach.
OnePath, which trades as Foxcom, provides RF over fibre products to satellite operators,…
British satcoms equipment maker Global Invacom has bought Israeli satellite services specialist OnePath Networks for US$3.5m to expand its international reach.
OnePath, which trades as Foxcom, provides RF over fibre products to satellite operators, teleports and broadcasters in more than 35 countries. It also has a US-based sales team that serves a customer base in North and South America, and a network in the military sector.
“Foxcom adds a strong suite of complimentary capabilities which will enhance our value proposition as an integrated satcoms equipment designer and manufacturer, and will open up a new range of global customers,” said Global Invacom CEO Tony Taylor.
The deal comes shortly after Global Invacom netted £8.8m (US$15m) through listing on UK junior stock market AIM. The group, which was already listed in Singapore, said it would use the proceeds for M&A opportunities to expand across the European and North American satcoms markets.
Foxcom, which posted a net tangible asset value of around US$3.4m as at 30 June, claims to have an annual turnover of roughly US$5m and strong gross profit margins.
Global Invacom hired FinnCap as nominated adviser and joint broker for the deal, and Mirabaud Securities LLP as joint broker.
