- Boxlight Corporation (Nasdaq: BOXL) — a leading provider of interactive technology solutions for the global education market — recently announced it was buying Sahara Presentation Systems PLC
Boxlight Corporation (Nasdaq: BOXL) — a leading provider of interactive technology solutions for the global education market — recently announced it was buying Sahara Presentation Systems PLC. Sahara Presentation Systems PLC is a leader indistributed and manufactured AV solutions. The total purchase price was GBP 74 million (approximately USD 94.9) in the form of GBP 52 million (approximately USD 66.7 million) cash and GBP 22 million (approximately USD 28.2 million) preferred stock.
Based in the United Kingdom, Sahara is known as a leader in distributed AV products and a manufacturer of touchscreens and digital signage products, including the globally renowned Clevertouch and Sedao brands. The company was originally formed in 1976 by Kevin and Nigel Batley — who grew the company to over 100 employees with offices worldwide.
This acquisition expands Boxlight’s geographic reach, especially in the EMEA region. And it provides significant revenue growth and results in immediate consolidated profitability for Boxlight. The combined companies are generating over $100 million in sales.
Cripps Pemberton Greenish represented Sahara as legal counsel for the transaction and BDO LLP acted as an adviser. And Michelman & Robinson, LLP and Hinds & Small Limited represented Boxlight as legal counsel and Dixon Hughes Goodman LLP acted as an adviser.
KEY QUOTES:
“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.”
— Kevin Batley, Director at Sahara.
“I am very excited about the journey ahead as we join Boxlight. 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.”
— Mark Starkey, CEO at Sahara
“I am thrilled to combine the resources of Boxlight and Sahara, two of the most recognized 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 USD 100 million in sales and are highly profitable. I look forward to reporting our consolidated financial statements in future quarters.”
— Michael Pope, Chairman and CEO at Boxlight
