![]() ![]() With the planned launch of GE-1A in 1999, GE Americom's satellite services will be able to reach 80 percent of the world's population. In South America, GE Americom is an equity investor in the NahuelSAt satellite system. GE Americom operates 11 satellites providing satellite-based solutions for North America, Europe, the Middle East and now, with the planned launch of GE-1A, Asia. With over 20 years of experience, GE Americom is one of the world's largest satellite operators and a pioneer in satellite distribution of television programming. With headquarters in McLean, Virginia, GE Spacenet is a wholly-owned subsidiary of GE American Communications, Inc. GE Spacenet is a world leader in providing global communications networks and services. "We believe that the strong allianceīetween GE Americom and Gilat, coupled with the existing service infrastructure in Spacenet, will position the combinedĬompany to prosper from emerging broadband Internet applications and services." "This deal is expected to be non-dilutive in 1999 and accretive in 2000," added Gat. These strengths should help us realize our goal ofīecoming the world's leading VSAT company." Vertically-integrated, globally-competitive firm focused purely on VSATs. Gilat Chairman and Chief Executive Officer Yoel Gat explained, "The merger of Spacenet into Gilat will create a The merger combines Gilat's outstanding development skills and hardwareĮxpertise with Spacenet's software capabilities and network operating strengths." Superior quality and manufacturing capabilities."Ĭonnelly continued, "The combined company will have superior reach, distribution and product position which will allow it toĬompete successfully in any part of the world. "We have chosen Gilat as our partner based on its strong product development, and Connelly, Chairman and ChiefĮxecutive Officer of GE Americom. "Gilat has been Spacenet's primary product provider since Spacenet's inception," said John F. ![]() The deal is subject to the approval of Gilat shareholders and governmental authorities, including the USĭepartment of Justice, and the US Federal Communications Commission for transfer of control of certain permits and licenses. Percent of Gilat's outstanding shares and will become Gilat's largest single shareholder, with two out of seven seats on Gilat'sīoard of Directors. Under the terms of the merger agreement, GE Americom will receive five million newly-issued shares equal to approximately 30 Spacenet products, stationery and literature will display the GE logo together with the Gilat logo for the next three years. (Spacenet), will continue to support all of GE Spacenet's product lines as well as its 120 customers in 41 countries, making Gilat one of GE Americom's largest customers. The new entity, to be called Spacenet, Inc. (GE Spacenet) will become a wholly-owned subsidiary of Gilat. Of Petah Tikva, Israel and GE American Communications (GE Americom) of Princeton, New Jersey announced today that GE Capital Spacenet Services, Inc. ![]()
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