SafeNet, a subsidiary of Gilat Satellite, agrees to acquires Spacenet The companies will continue to operate under their respective brand names until the acquisition is completed. The acquisition is expected to close within the next three months and is subject to the satisfaction of customary closing conditions. According to Woodard, his company’s track record of entrepreneurial success and innovation was a key factor in the negotiations between SageNet and Spacenet. The revenues of the combined companies will exceed $100M a year.
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