Globecomm Systems Inc, which provides communications services via a multifaceted network infrastructure, says it will be acquired from its present owner, a New York-based private equity firm it declined to identify, by an investor group led by HPS Investment Partners, LLC, and funds managed by Tennenbaum Capital Partners, LLC (TCP). Globecomm expects the transaction to be completed in the third calendar quarter of 2017. The transaction is pending customary regulatory approvals. Terms of the definitive agreement were not disclosed.
Globecomm says its connectivity offerings are differentiated by the company's expertise in satellite and wireless communications. The company provides end-to-end, managed services worldwide using a 24/7 network operations center, and global teleport and fiber-optic network and data centers. The provider serves customers within such markets as media, maritime, wireless, enterprise and government in over 100 countries.
"This transaction positions Globecomm's business for the future and accelerates our company's evolution to provide complex communication solutions to the connected world," said Jason D. Juranek, Globecomm's chief executive officer. "I am excited about our strong and growing pipeline of opportunities within our core markets, as well as investments we are making in adjacent verticals, to further expand our diversification strategy. In the more than three years that we have partnered with HPS and TCP we've successfully delivered against our customer-focused strategy. With this transition, we have taken significant steps to recapitalize and strategically position Globecomm for long-term success."
For related articles, visit the Business Topic Center.
For more information on high-speed transmission systems and suppliers, visit the Lightwave Buyer's Guide.
