Eagle Broadband Sells SatMax Business
[10-30-07 – Satellite Today] Eagle Broadband Inc. has sold its SatMax satellite telephony repeater business to Security Financing Services Inc., Eagle announced Oct. 29.
Security Financing purchased all the assets for $100,00, plus a three-year earn-out provision providing for a percentage payment of gross profits during that period.
“Eagle continues to narrow its focus on its core business of providing Internet Protocol related products and services. Unfortunately, SatMax no longer fit into our refocused core business,” Brian Morrow, COO of Eagle Broadband, said in a statement. “The sale of the SatMax business will allow us to channel more of our time and energies into the targeted strategies at Eagle.”