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Boxlight Declares Acquisition of Sahara Presentation Systems
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Boxlight Corporation (BOXL - Free Report) announced the buyout of Sahara Presentation Systems PLC on Friday for $94.9 million. The deal price includes $66.7 million cash and $28.2 million in preffered stocks.
Notably, the company’s shares have gained 49.5% year to date against 4.5% decline of the industry it belongs to. The Zacks S&P 500 composite has risen 2.4% in the said time frame.
Founded in 1976 and headquartered in the United Kingdom, Sahara Presentation is a leader in distributed and manufactured AV solutions. It is a manufacturer of touchscreens and digital-signage products, including the popular Clevertouch and Sedao brands.
How Will Boxlight Benefit?
Michael Pope, chairman and CEO of Boxlight, stated that the acquisition adds global management talent to the company and expands its geographic footprint, especially in the EMEA region. It provides significant revenue growth and consolidated profitability opportunities.
"We are committed to achieving dramatic growth, both organically and through acquisitions, and we are delivering on that promise. The combined companies are generating greater than $100M in sales and are highly profitable,” Pope noted.
Earlier in the week, Boxlight announced the acquisition of three LAN-based screen-sharing patents and a pending patent application from Circle Technology. The company had also announced earlier in the week that it secured a $22 million investment from Lind Global Macro Fund.
The long-term expected earnings per share (three to five years) growth rate for Republic Services, CoreLogic and Elastic is 7.9%, 12% and 26%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
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Boxlight Declares Acquisition of Sahara Presentation Systems
Boxlight Corporation (BOXL - Free Report) announced the buyout of Sahara Presentation Systems PLC on Friday for $94.9 million. The deal price includes $66.7 million cash and $28.2 million in preffered stocks.
Notably, the company’s shares have gained 49.5% year to date against 4.5% decline of the industry it belongs to. The Zacks S&P 500 composite has risen 2.4% in the said time frame.
Founded in 1976 and headquartered in the United Kingdom, Sahara Presentation is a leader in distributed and manufactured AV solutions. It is a manufacturer of touchscreens and digital-signage products, including the popular Clevertouch and Sedao brands.
How Will Boxlight Benefit?
Michael Pope, chairman and CEO of Boxlight, stated that the acquisition adds global management talent to the company and expands its geographic footprint, especially in the EMEA region. It provides significant revenue growth and consolidated profitability opportunities.
"We are committed to achieving dramatic growth, both organically and through acquisitions, and we are delivering on that promise. The combined companies are generating greater than $100M in sales and are highly profitable,” Pope noted.
Earlier in the week, Boxlight announced the acquisition of three LAN-based screen-sharing patents and a pending patent application from Circle Technology. The company had also announced earlier in the week that it secured a $22 million investment from Lind Global Macro Fund.
Zacks Rank and Key Picks
Currently, Boxlight has a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader Zacks Business Services sector are Republic Services (RSG - Free Report) , CoreLogic and Elastic N.V. (ESTC - Free Report) . While Republic Services sports a Rank #1 (Strong Buy), CoreLogic and Elastic stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term expected earnings per share (three to five years) growth rate for Republic Services, CoreLogic and Elastic is 7.9%, 12% and 26%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>