GatesAir has announced that Thomson Broadcast, a subsidiary of Sipromad Group of Madasgacar, has inked a definitive agreement to buy them from a Gores Group affiliate.
Sipromad Group is owned by Ylias Akbaraly, the wealthiest man in Madagascar, according to Forbes Afrique. GatesAir is a well-known broadcasting firm with a manufacturing facility in Quincy.
The merging of GatesAir and Thomson Broadcast, according to GatesAir, will increase both firms’ creativity, design,and product efficiency, as well as broaden their offering of broadcast solutions.
“GatesAir is already an undisputed leader in the broadcast industry, and our combination with Thomson Broadcast will create a combined company of larger scale even better suited to meet the ever-evolving needs of our customers all over the globe,” Bruce D. Swail, CEO of GatesAir, said.
Akbaraly, chairman of Thomson Broadcast, stated that they expect this merger will enable them have a greater footprint in the United States.
“In 2018, we have set the goal to establish ourselves in the U.S. market. With Thomson Broadcast and GatesAir now united, these two companies will make us stronger in America and globally as well,” Akbaraly said.
Amine Oubid, CEO of Thomas Broadcast, expressed his delight at the prospect of working with GatesAir.
“We are delighted to have reached this point,” Oubid said. “From the start we were excited to work with the GatesAir team and saw the obvious fit of the two companies. The transaction closing can’t come fast enough for us. We’re very proud to participate in the rallying of two century-old companies and excited to start working together.”
GatesAir, which was founded in 1922 as Gates Radio Company in Quincy, recently celebrated its 100th birthday, according to RadioWorld.
The company was run by the Gates family until 1957, when it was sold to Harris Intertype.
The Gates name was reinstated to the corporation shortly after it became a part of Harris Corporation to recognize its roots.
