View Tech’s Acquisition to Aid Sales in Northeast
View Tech Inc. in Camarillo has agreed to acquire Boston-based GroupNet Inc. for a combination of cash and stock valued at approximately $1.4 million.
GroupNet is an authorized dealer for PictureTel Corp. and a leading distributor of video communications products in the Northeast.
The acquisition is subject to the approval of the boards of directors of both companies.
View Tech expects the transaction to be completed this month.
“The acquisition of GroupNet is an important first step in expanding the company’s distribution channels for its products and services in the Northeast, as well as further strengthening our position as a national, full-service provider of video-conferencing systems and solutions,†said Robert G. Hatfield, View Tech’s chairman and chief executive.
Upon completion of the transaction, GroupNet will continue to operate its Boston and New York offices and service its existing customers in the Northeast under the corporate name of View Tech Inc.
