Spacenet Acquires CICAT Networks (GILT)

Spacenet Inc., a wholly owned subsidiary of Gilat Satellite Networks GILT, and a leading provider of broadband network solutions, announced that it has acquired CICAT Networks, Inc., a nationwide provider of broadband network solutions based in Chantilly, Virginia. CICAT Networks uses a network deployment approach which is vendor neutral and thus optimized for the customer. Its methodology has a long and proven track record delivering value added services for businesses with multi-site locations. The acquisition of CICAT Networks represents a milestone in Spacenet's strategy to expand its business in the broadband managed network services market. “The combined Spacenet and CICAT Networks organization creates a new level of network capabilities and functionality ideal for multi-site business and enterprise customers across the U.S." said Spacenet CEO Andreas Georghiou. "This enables Spacenet to increase its addressable market substantially, and offer this market an expanded range of connectivity options and managed network service solutions. The acquisition demonstrates our commitment to meeting the evolving needs of our customers and adapting to a changing competitive landscape in the market.”