Boxlight acquires AV solutions provider Sahara Presentation System
Boxlight, a US-based provider of interactive technology solutions for the education market, has acquired Sahara Presentation Systems, a UK-based provider of distributed and manufactured AV solutions, for $95 million.
Sahara Presentation Systems manufactures touchscreens and digital signage products, which include the Clevertouch and Sedao brands. The company, which was founded in 1976 by Kevin Batley and Nigel Batley, has grown to over 100 employees with offices across the world.
Kevin Batley – Director at Sahara Presentation Systems 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.”
The consideration for the acquisition will be made in the form of $66.7 million in cash and $28.2m worth shares of Boxlight.
Michael Pope – Chairman and CEO at Boxlight said: “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.”
Earlier this week, Boxlight acquired three LAN based screen sharing patents and a pending patent application from Circle Technology.
The interactive technology solutions provider had also secured a $22 million investment earlier this week from Lind Global Macro Fund, an investment fund managed by The Lind Partners.