UniTek Acquires Assets of Skylink LTD to Expand Fulfillment Business
With completing the acquisition of Skylink, UniTek Global Services (News
) is all set to enter in nine new markets that include Ohio, Indiana and West Virginia.
UniTek Global Services is a provider of permanently outsourced infrastructure services to the telecommunications, broadband cable, wireless, transportation, public safety and satellite television industries.
Established in 1998, Skylink LTD is a fulfillment installation services provider to DirecTV (News
), the nation's largest satellite television provider, and ViaSat, a provider of innovative satellite broadband services.
This acquisition enables UniTek to leverage contiguous operations and its industry-leading fulfillment services platform for its largest customer.
It seems that UniTek Global Services is heading towards new heights of growth by acquiring companies that strategically align with its expertise.
'We remain focused on continuing to develop our core markets and strengthening key customer relationships. This transaction allows us to realize operational efficiencies by implementing our industry-leading technology platform and performance-driven culture,' said Rocky Romanella, Chief Executive Officer of UniTek, in a statement
. 'The addition of these territories bridges DirectSat's operations in the East and Midwest regions, and helps position UniTek for further market share growth.'
Last year in December 2011, Skylink generated revenue of approximately $31.2 million, with EBITDA1 of $5.9 million.
The total of the acquisition is $23.5 million that includes $14.0 million in cash at closing and earn-out payments up to $9.5 million, subject to achievement of certain performance milestones.
Edited by Brooke Neuman
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