Mainboard-listed Global Invacom acquires Israel-based satellite equipment specialist

Mainboard-listed Global Invacom Group said on Tuesday it had acquired Israel-based OnePath Networks Ltd for US$3.5 million (S$4.52 million), allowing it to gain new technologies, expand market reach and grow its network of broadcasters.

OnePath - which trades as Foxcom - is one of the pioneers in radio frequency over fibre technology. It provides products and services to major satellite operators, teleports and broadcasters in over 35 countries.

Leveraging on Foxcom's U.S.-based sales team, its customer base in North and South America and its network in the military sector, Global Invacom said it will expand its footprint in existing and new geographies while entering new product markets as demand for sat comms equipment grows.

Global Invacom said it satisfied the cash consideration from the US$15.0 million gross proceeds raised from its AIM placing completed on 2 July 2014. AIM is the London Stock Exchange's international market for smaller growing companies.