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Boxlight acquires Sahara Presentation Systems

By Zoe Mutter in Business , News September 25, 2020 0

Boxlight Corporation, a provider of interactive technology solutions for the global education market, has acquired distributor Sahara Presentation Systems.

Boxlight Corporation’s acquisition of Sahara Presentation Systems includes Sahara AV Solutions, Clevertouch and Sedao brands and provides geographic expansion, substantial revenue growth, consolidated profitability and global management talent.

Headquartered in the UK, AV distributor Sahara also manufactures touchscreens and digital signage products, including Clevertouch and Sedao brands. The company was formed in 1976 by Kevin and Nigel Batley, who grew the company to over 100 employees with offices worldwide.

“This is an exciting time for the Sahara business, which is trading extremely well, even in the current climate. We welcome the added leadership and solutions from Boxlight as we aim to accelerate our growth in key markets around the world,” said Kevin Batley, Director at Sahara.

“I am very excited about the journey ahead,” said Mark Starkey, CEO at Sahara. “The global footprint and infrastructure of Boxlight, with their experience in delivering education software and audio visual solutions, paired with our extensive experience and expertise in AV, will position us to provide our customers across the world solutions for advanced and collaborative working environments. We are committed to continue our rapid expansion plans and under the new acquisition.”

Michael Pope, Chairman and CEO at Boxlight, added, “I am thrilled to combine the resources of Boxlight and Sahara, two of the most recognized companies in education technology. The acquisition expands our geographic reach - particularly in the EMEA region, provides significant revenue growth, results in immediate consolidated profitability, and adds tremendous global management talent. We have committed to dramatic growth, both organically and through acquisitions, and we are delivering on that promise. I look forward to reporting our consolidated financial statements in future quarters.”

AV Magazine caught up with Kevin Batley just after the acquisition announcement to find out more about what it means for both companies.

"Nigel and I will remain on the board and will still play a part day to day. We have a management team in place who are more than capable of taking this business to the next stage. It’s a perfect fit and we share the same ethos - the Boxlight operation is very US-centric and we have been selling in lots of countries around the world as well as the UK market," said Kevin.

Sahara's Kevin and Nigel Batley

"We recognised that we needed to step up to the next size and to do that means raising a lot more money. Nigel and I have always left the money in the company and it has been asset rich in the sense that it has been able to fund itself. This also meant we never needed to furlough anybody in the last six months.

"But the problem for Nigel and I is that we couldn’t do that forever. The fact that Boxlight is a NASDAQ listed company was a factor as they have the ability to grow and raise funds which offers a lot of advantages. We think that this offers opportunities for some of our customers around the world too. Age was a factor too as I'm 66 and Nigel is 63 and doing what is right for the company is always going to be our top priority."

Stability is of great importance to the Sahara team, as is ensuring their customers feel comfortable with the change. Kevin added: "From Boxlight’s point of view we also tick some boxes because they have nothing outside of the US and we offer them a presence in enterprise and digital signage. Boxlight is also working on some really impressive technology and I see a lot of product innovation coming from this."

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Boxlight declares acquisition of sahara presentation systems.

Boxlight Corporation BOXL 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, CoreLogic CLGX and Elastic N.V. ESTC. 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.

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About Sahara AV

Sahara AV distributes AV solutions and software to the education, health, public and corporate sectors through its selected resellers. It is based in Dartford, England. On September 25th, 2020, Sahara AV was acquired by Boxlight.9M.

Headquarters Location

Europa House, Littlebrook

Dartford, England, DA1 5PZ,

United Kingdom

Latest Sahara AV News

Oct 9, 2020

Boxlight Corporation  (Nasdaq: BOXL), a provider of interactive technology solutions for the global education market, acquired Sahara Presentation Systems PLC, a UK leader in distributed and manufactured AV solutions. The total purchase price was GBP 74m (approximately USD 94.9m) in the form of GBP 52m (approximately USD66.7m) cash and GBP22m (approximately USD28.2m) preferred stock. Formed in 1976 by Kevin and Nigel Batley, who grew the company to more than 100 employees with offices worldwide, and led by Mark Starkey, CEO, Sahara is a leader in distributed AV products and a manufacturer of touchscreens and digital signage products, including the globally renowned Clevertouch and Sedao brands. Led by Michael Pope, Chairman and CEO, Boxlight Corporation is a provider of technology solutions for the global learning market. The company develops, sells, and services its integrated, interactive solution suite including software, classroom technologies, professional development and support services. FinSMEs

Sahara AV Frequently Asked Questions (FAQ)

Where is Sahara AV's headquarters?

Sahara AV's headquarters is located at Europa House, Littlebrook, Dartford.

What is Sahara AV's latest funding round?

Sahara AV's latest funding round is Acquired.

Who are the investors of Sahara AV?

Investors of Sahara AV include Boxlight.

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Boxlight Acquires Sahara Presentation Systems for GBP 74 Million (USD 94.9 Million)

Acquisition includes Clevertouch and Sedao brands and provides geographic expansion, substantial revenue growth, consolidated profitability and global management talent

LAWRENCEVILLE, Ga. --(BUSINESS WIRE)-- Boxlight Corporation (Nasdaq: BOXL), a leading provider of interactive technology solutions for the global education market, today announced it has acquired Sahara Presentation Systems PLC , a leader in distributed and manufactured AV solutions.

The total purchase price was GBP 74,000,000 (approximately USD 94,900,000 ) in the form of GBP 52,000,000 (approximately USD 66,700,000 ) cash and GBP 22,000,000 (approximately USD 28,200,000 ) preferred stock.

Headquartered in the United Kingdom , Sahara is a leader in distributed AV products and a manufacturer of multi-award winning touchscreens and digital signage products, including the globally renowned Clevertouch and Sedao brands. The company was formed in 1976 by Kevin and Nigel Batley , who grew the company to more than 100 employees with offices worldwide.

“This is an exciting time for the Sahara business, which is trading extremely well, even in the current climate. We welcome the added leadership and solutions from Boxlight as we aim to accelerate our growth in key markets around the world,” stated Kevin Batley , Director at Sahara.

“I am very excited about the journey ahead as we join Boxlight,” stated Mark Starkey , CEO at Sahara. “The global footprint and infrastructure of Boxlight, with their experience in delivering comprehensive education technology solutions, paired with our extensive experience and expertise in AV technology and products, will position us to provide our customers across the world with solutions for advanced and collaborative working environments. We are committed to continue our rapid expansion plans following Sahara’s acquisition by Boxlight.”

Michael Pope , Chairman and CEO at Boxlight added, “I am thrilled to combine the resources of Boxlight and Sahara, two of the most recognized companies in education technology. The Sahara acquisition expands our geographic reach - particularly in the EMEA region, provides significant revenue growth, results in immediate consolidated profitability, and adds tremendous global management talent. 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 USD 100 million in sales and are highly profitable. I look forward to reporting our consolidated financial statements in future quarters.”

Cripps Pemberton Greenish represented Sahara as legal counsel for the transaction and BDO LLP acted as an adviser. Michelman & Robinson, LLP and Hinds & Small Limited represented Boxlight as legal counsel and Dixon Hughes Goodman LLP acted as an adviser.

About Boxlight Corporation

Boxlight Corporation (Nasdaq: BOXL) is a leading provider of technology solutions for the global learning market. The company aims to improve learning and engagement in classrooms and to help educators enhance student outcomes by developing the products they need. The Company develops, sells, and services its integrated, interactive solution suite including software, classroom technologies, professional development and support services. For more information about the Boxlight story, visit http://www.boxlight.com .

Forward Looking Statements

This press release may contain information about Boxlight's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements because of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to maintain and grow its business, variability of operating results, its development and introduction of new products and services, marketing and other business development initiatives and competition in the industry. Boxlight encourages you to review other factors that may affect its future results in its filings with the SEC .

View source version on businesswire.com : https://www.businesswire.com/news/home/20200925005052/en/

Media Relations Sunshine Nance +1 360-464-2119 x254 [email protected]

Investor Relations Michael Pope +1 360-464-4478 [email protected]

Source: Boxlight Corporation

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