Author: Vitaliy Dadalyan

Boxlight Buys Audio-Visual Specialist Sahara For $94.9M

Boxlight announced the acquisition of UK-based Sahara Presentation Systems, a specialist in AV (audio visual) solutions for £74 million ($94.9 million) on Friday. Boxlight shares jumped about 14.5% on Friday, following the deal, but are down 3.6% in pre-market trading on Monday.Per the terms of the deal, Boxlight (BOXL), an interactive technology solutions provider for the education market, will pay about $66.7 million in cash and the remaining $28.2 million in preferred stock to Sahara shareholders. The acquisition would include Sahara’s renowned brands Clevertouch and Sedao.Boxlight’s CEO Michael Pope said “The Sahara acquisition expands our geographic reach - particularly in the EMEA [Europe, the Middle East and Africa] region, provides significant revenue growth, results in immediate consolidated profitability, and adds tremendous global management talent.” He added “The combined companies are generating greater than $100M in sales and are highly profitable.” (See BOXL stock analysis on TipRanks)On Aug 17, Maxim Group analyst Jack...