Boxlight Corporation (Nasdaq: BOXL), a leading provider of interactive technology solutions for the global education market, announced late last week that it has acquired Sahara Presentation Systems PLC, a leader in distributed and manufactured AV solutions.
The total purchase price was GBP 74,000,000 (approximately USD 94,900,000) in the form of GBP 52,000,000 (approximately USD 66,700,000) cash and GBP 22,000,000 (approximately USD 28,200,000) preferred stock.
Headquartered in the United Kingdom, Sahara is a leader in distributed AV products and a manufacturer of multi-award winning touchscreens and digital signage products, including the globally renowned Clevertouch and Sedao brands. The company was formed in 1976 by Kevin and Nigel Batley, who grew the company to more than 100 employees with offices worldwide.
Michael Pope, Chairman and CEO at Boxlight said “I am thrilled to combine the resources of Boxlight and Sahara, two of the most recognized companies in education technology. The Sahara acquisition expands our geographic reach – particularly in the EMEA region, provides significant revenue growth, results in immediate consolidated profitability, and adds tremendous global management talent. We are committed to achieving dramatic growth, both organically and through acquisitions, and we are delivering on that promise. The combined companies are generating greater than USD 100 million in sales and are highly profitable. I look forward to reporting our consolidated financial statements in future quarters.”
Cripps Pemberton Greenish represented Sahara as legal counsel for the transaction and BDO LLP acted as an adviser. Michelman & Robinson, LLP and Hinds & Small Limited represented Boxlight as legal counsel and Dixon Hughes Goodman LLP acted as an adviser.
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