Gilat Completes Acquisition of DataPath, Inc.
Petah Tikva, Israel, November 16, 2023 — Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a provider of networking technology, solutions, and services, announced today that it has completed the acquisition of DataPath, Inc., a provider of trusted communications for the US DoD Military and Government sectors.
The acquisition represents a strong step forward in Gilat’s strategy to increase its presence in the growing defense communications market
The transaction was approved by the Gilat Board of Directors and by DataPath’s Board of Directors and stockholders earlier this year, and it has received regulatory approvals, including the receipt of clearance from the Committee on Foreign Investment in the United States (CFIUS).
“This acquisition is a strong step ahead in Gilat’s strategy to increase its presence in the growing defense market,” said Adi Sfadia, Gilat’s CEO. “With more than 25 years of experience in serving the US DoD and government sectors, as well as other government and defense markets, DataPath is the pillar we have been seeking to rapidly realize Gilat’s strategy. With annual revenues in the defense sector forecasted to increase by approximately $50 million, we are building upon the new, strong synergies enabled by the acquisition, as Gilat’s international presence will present DataPath with new opportunities for its advanced solutions, and DataPath’s valued presence in the US will create new opportunities for Gilat’s advanced communication technologies in this sector.”
“Together with Gilat, we are well positioned to offer all of our customers comprehensive integrated solutions built with best of breed components and technologies,” said David McDonald, DataPath’s President. “DataPath, now as part of Gilat, will continue to offer superior solutions, not just within the U.S. DoD market, but throughout the world. This acquisition’s synergies enhance Gilat’s and DataPath’s ability to develop solutions for the rapidly evolving satellite communication market. As the SATCOM market enters a new space age, our combined resources and technologies further enhance Gilat’s strategy in the global defense sector.”
Needham & Company LLC and Quilty Analytics LLC are serving as financial advisors to Gilat. Naschitz Brandes Amir & Co. and Foley and Lardner LLP are acting as Gilat’s legal counsel. RCBG, headquartered in Chicago, Illinois, served as exclusive strategic advisor to DataPath, Inc. DLA Piper LLP and Greenberg Traurig are acting as DataPath’s legal counsel.
DataPath excels in advanced and secure communications solutions tailored to the unique requirements of defense, aerospace, broadcast, government, and critical infrastructure clients. Our solutions include a wide range of field communications and information technology products, including satellite communication systems and network management software. All offerings are backed by 24×7 customer care and global field support. At DataPath we are passionate about helping our clients achieve mission success.
