Wasserstein & Co. Completes Acquisition of Globecomm Systems Inc.
December 11 2013 - 9:20AM
Business Wire
Globecomm Systems Inc. (NASDAQ:GCOM), a leading communications
solutions provider, announced today that an investor group led by
Wasserstein & Co. has successfully completed the previously
announced acquisition of Globecomm.
As a result of the merger, each share of Globecomm common stock
(other than shares held by Globecomm as treasury stock and shares
as to which holders properly exercised dissenters’ rights) was
converted into the right to receive $14.15 in cash, without
interest, and Globecomm’s common shares will no longer be publicly
traded.
As previously announced, the merger was approved by Globecomm’s
stockholders at a special meeting of the stockholders held on
November 22, 2013.
Needham & Company served as exclusive financial advisor and
Kramer Levin Naftalis & Frankel LLP served as legal counsel to
Globecomm.
Jones Day served as legal advisor to Wasserstein & Co. U.S.
Space LLC advised Wasserstein & Co. with respect to industry
matters.
About Wasserstein & Co.
Wasserstein & Co. is a leading independent private equity
and investment firm, focused primarily on leveraged buyout
investments and related investment activities. Wasserstein &
Co. manages capital on behalf of institutional and individual
investors. The firm is focused on investments primarily in the
media, consumer products and water equipment and services
industries. Wasserstein & Co. has offices in New York and Los
Angeles. For more information, visit www.wasserco.com.
About Globecomm
Globecomm Systems Inc. is a leading global communications
solutions provider. Employing its expertise in emerging
communication technologies, including satellite and other transport
mediums, Globecomm is able to offer a comprehensive suite of system
integration, system products, and network services enabling a
complete end-to-end solution for our customers. Globecomm believes
that its integrated approach of in-house design and engineering
expertise combined with a world-class global network and its 24 by
7 network operating centers provides it a unique competitive
advantage. Globecomm focuses this value proposition in selective
vertical markets, including government, wireless, media, enterprise
and maritime. As a communications solutions provider Globecomm
leverages its global network to provide customers managed access
services to the United States Internet backbone, video content, the
public switched telephone network or their corporate headquarters
or government offices. Globecomm currently has customers for which
it is providing these solutions in the United States, Europe, South
America, Africa, the Middle East and Asia.
Based in Hauppauge, New York, Globecomm also maintains offices
in Maryland, New Jersey, Virginia, the Netherlands, South Africa,
Hong Kong, Germany, Singapore, the United Arab Emirates and
Afghanistan.
Globecomm Systems Inc.Julia Hanft, 631-457-1144Vice President,
General Counsel & Corporate
Secretaryjhanft@globecomm.comorCompany Information:Globecomm
Systems Inc.45 Oser AvenueHauppauge, NY 11788Phone: 631-231-9800;
Fax: 631-231-1557Web: http://www.globecommsystems.com
Globecomm Systems (NASDAQ:GCOM)
Historical Stock Chart
From Apr 2024 to May 2024
Globecomm Systems (NASDAQ:GCOM)
Historical Stock Chart
From May 2023 to May 2024