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FOR IMMEDIATE RELEASE
White Oak Management Partners to acquire DataPath
Atlanta, GA - July 16, 2004 - DataPath, Inc. (DataPath) and White Oak Capital Partners, Inc. (White Oak) today jointly announced a definitive agreement for a private investment group led by White Oak to acquire DataPath. The financial terms of the agreement are not disclosed. The transaction is expected to close this September.
"This acquisition is an important step forward for DataPath, and in-line with our long-term vision," said Trent Davis, President and CEO of DataPath. "We believe the financial and leadership resources brought forth by White Oak will clearly accelerate DataPath's growth in both the commercial and government SATCOM marketplaces, while maintaining the same high level of product quality and care to our customers."
"We are delighted to acquire this well managed, innovative industry leader and share the Company's vision of expanding its secure telecommunications systems both nationally and internationally. DataPath fits with our overall sector strategy and other industry opportunities. We look forward to working in partnership with management and employees towards continued future success" said Chris Melton, Managing Director of White Oak Management Partners.
About DataPath, Inc.
DataPath, Inc. is a leading supplier of both DoD and commercial satellite communication earth station systems and services. DataPath, Inc. is headquartered in Norcross, Georgia; with global operating presence in 12 countries. For more information, please visit http://www.datapath.com/ .
About White Oak Capital Partners, LLC
White Oak Capital Partnters, LLC is an investmetn entity managed by White Oak Managment Partners, a private investment group, located in Atlanta, Georgia specializing in the acquisition and management of companies in aerospace, defense, manufacturing and technology industries. For more information, please visit www.whiteoakmp.com .
Contacts:
Nelson Santini, Marketing Manager,
DataPath, Inc.
678-323-3800 ext 3816
Chris Melton,
Managing Director,
White Oak Management Partners, Inc.
404-875-9994 ext 101
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