Orbital Energy Group (OEG) has acquired 100 percent of the capital stock of Gibson Technical Services Inc. (GTS), an Atlanta-based telecommunications company for roughly $48 million.
Upon completion of the acquisition, GTS became a wholly owned subsidiary of OEG. The acquisition was funded by OEG's available cash resources and two-year restricted shares of OEG common stock.
“This is a very significant company milestone for GTS,” said Mike McCracken, CEO of GTS. “With the combination of these two companies we will now be able to increase our programs and services to our existing customer base, as well as pursue growth opportunities across a much broader market.”
GTS's customers include Cox Communications, Charter Spectrum, Comcast Communications, Verizon and other industry leaders. GTS’s value-added services reduce the time to identify, design and construct the cost-effective delivery of a broad range of telecommunications projects.
“GTS's st
