G G lobal Eagle Entertainment (GEE) has signed a defini- tive agreement to acquire Emerging Markets Communications (EMC), a provider of communications services to maritime and other mobil- ity markets. The combined company will offer global satellite-based...
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G G lobal Eagle Entertainment (GEE) has signed a defini- tive agreement to acquire Emerging Markets Communications (EMC), a provider of communications services to maritime and other mobil- ity markets. The combined company will offer global satellite-based communica- tions and media content to both the maritime and aviation markets, as well as selected land-based sectors. Under the agreement, GEE will pay $550 million for EMC in cash and shares, with payments to be spread between this year and 2017. EMC is projected to reach $190-200 million in 2016 revenue, with $55-65 million in Adjusted EBITDA for the year. As a result of the transaction, ABRY Partners, a communications- focused private equity investment firm and the majority owner of EMC, will acquire an equity position in GEE as well as the right to nominate a member to GEE’s Board of Directors. Dave Davis, chief executive officer of GEE, will be CEO of the combined company and Abel Avellan, founder and chief executive officer of
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