Thursday, April 7, 2011

Globecomm Acquires ComSource for Test Facility

Globecomm Systems, a provider of satellite-based managed network services, has acquired ComSource, which provides independent testing services for telecom gear. The initial purchase price is $20.0 million, funded through $2.0 million of existing cash and $18.0 million through Globecomm's existing credit facility with Citibank. ComSource may receive up to $21.0 million of additional consideration, through a two-year earn-out, based on reaching certain earnings milestones.

ComSource, which is based in Frederick, MD, operates a state of the art test facility. Client testing includes basic performance, data assurance, reliability and system security. ComSource is capable of testing the following wireless equipment types: UMTS (3G) platforms and mobile devices, GSM platforms including GPRS and EDGE and mobile devices, CDMA platforms and mobile devices, Wi-Fi platforms and mobile devices, and WiMax platforms and mobile devices.

ComSource currently employs 48 individuals, of which 39 are dedicated to wireless technologies software development. The company had unaudited revenues of approximately $22.7 million for the year ended December 31, 2010.

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