RRsat Global Communications Network Ltd. (RRST) recently announced that its subsidiary, RRsat Global Communications Inc. has entered into an agreement to acquire the Hawley Teleport located in Pike County, Pennsylvania for approximately $4.25M. As part of the transaction, RRsat will acquire all the property, assets and licenses of the Teleport from Skynet Satellite Corporation. RRsat, headquartered in Omer, Israel, is a provider of end-to-end transmission via satellites and production services to the global broadcasting industry.
The Hawley Teleport, formerly owned by satellite operator Loral Skynet, includes approximately 200 acres, a 3-floor communications building of approximately 40,000 sq. ft., communications equipment and antennas. The acquisition is expected to close during the second quarter of 2008 and is subject to regulatory approvals, a 45-day due diligence period and customary closing conditions.
According to David Rivel, founder and chief executive officer of RRsat, the Hawley teleport is uniquely suited to complement RRsat’s service requirements. The teleport is geographically well-positioned under the transatlantic coverage of RRsat Global Network, with strong fiber connectivity to the company’s major U.S. point of presence in New York. The acquisition is the company’s first step in their strategic plan to build a strong presence in North America.
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