RRsat op overnamepad!
RRsat Announces First Acquisition in North America
Acquiring Skynet Satellite's Teleport in Hawley, Pennsylvania
OMER, Israel, February 14 /PRNewswire-FirstCall/ -- RRsat Global Communications Network Ltd. (NASDAQ: RRST), a rapidly growing provider of comprehensive content management and global distribution services to the television and radio broadcasting industries, announced today that its subsidiary, RRsat Global Communications Inc., has entered into an agreement to acquire the Hawley Teleport located in Pike County, Pennsylvania, for approximately $4.25 million.
As part of the transaction, RRsat will acquire all the property, assets and licenses of the Teleport from Skynet Satellite Corporation. The Hawley Teleport, formerly owned by satellite operator Loral Skynet, includes approximately 200 acres, a 3 floor communication building on the premises of a size of approximately 40,000 sq. ft, communications equipment and antennas, in which substantial resources have been invested during the teleport's 33 years of operation.
The acquisition is expected to close during the second quarter of 2008 and is subject to regulatory approvals, a 45-day due diligence period and customary closing conditions.
"We are very pleased to announce our proposed acquisition of this premier teleport facility in Pennsylvania, in which substantial resources have been invested over the years in advanced antennas and communications equipment. The Hawley teleport, which was designed from inception to support the distribution of video and radio content, is uniquely suited to complement RRsat's services and customer base. The teleport is also geographically well-positioned for RRsat's service requirements, under the transatlantic coverage of RRsat Global Network, with strong fiber connectivity to our major U.S. point of presence in New York as well as unobstructed views of our most heavily utilized satellites," commented David Rivel, Founder and CEO of RRsat.
Mr. Rivel added, "This acquisition is the first step in our strategic plan to build a strong local presence in the North American region, and further expand the footprint of our proprietary RRsat Global Network. The teleport has significant equipment capacity to accommodate RRsat's continued growth in the U.S. market. We also intend to continue to explore additional complementary acquisitions, that will enhance our access to the U.S. market, and will enable us to offer a broader range of end-to-end services to our growing global customer base within the United States."