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Globecomm To Be Acquired For $340 Million

By TechTaffy Desk

Globecomm

Communications solutions provider Globecomm has entered into a definitive agreement with Wasserstein & Co. to be acquired for $14.15 per share in cash or roughly $340 million.

The transaction was unanimously approved by Globecomm’s board of directors, and is expected to be completed in the fourth calendar quarter of 2013, subject to customary closing conditions. 

The transaction is expected to be financed through a combination of cash provided by Wasserstein & Co. affiliates and other co-investors, as well as debt financing. Highbridge Principal Strategies has entered into a commitment letter for the debt financing.

Needham & Company is serving as financial advisor to Globecomm. Kramer Levin Naftalis & Frankel is acting as Globecomm’s legal counsel, and Jones Day is acting as legal advisor to Wasserstein & Co. U.S. Space advised Wasserstein & Co.

[Image courtesy: Globecomm]

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