Lawrenceville, Georgia-based Boxlight Corporation, a provider of interactive technology solutions for the global education market, has acquired Sahara Presentation Systems.
The total purchase price was £74 million in the form of £52 million cash and £22 million in preferred stock.
Headquartered in Dartford in Kent, Sahara provides distributed audiovisual products and manufactures touchscreens and digital signage products, including the 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.
Kevin Batley, director at Sahara, said: “This is an exciting time for the Sahara business, which is trading extremely well, even in the current climate. We welcome the added leadership and solutions from Boxlight as we aim to accelerate our growth in key markets around the world.
Sahara chief executive Mark Starkey added: “The global footprint and infrastructure of Boxlight, with their experience in delivering comprehensive education technology solutions, paired with our extensive experience and expertise in AV technology and products, will position us to provide our customers across the world with solutions for advanced and collaborative working environments. We are committed to continue our rapid expansion plans following Sahara’s acquisition by Boxlight.”
Michael Pope, chairman and chief executive at Boxlight, said: “I am thrilled to combine the resources of Boxlight and Sahara, two of the most recognised 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 $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 acted as an adviser. Michelman & Robinson and Hinds & Small represented Boxlight as legal counsel and Dixon Hughes Goodman acted as an advisor.
Date published: 28 September 2020