NEW YORK ( The Deal) -- Satellite communications and broadcasting service company Globecomm Systems ( GCOM) will be acquired by an affiliate of private investment firm Wasserstein & Co. for $14.15 a share, or $340 million, the target announced Monday, Aug. 26.The deal concludes a strategic review for the target active since the beginning of the year when Hauppauge, N.Y.-based Globecomm tapped Needham & Co. to advise it on strategic alternatives. The target was facing pressure from activist investors, among them Chicago-based investment firm Discovery Group which had told the company last year it should explore a sale. Other investors more recently raised the possibility of a proxy fight. The purchase price represents a 21.9% premium to Globecomm's share price on Jan. 14, the day the strategic review was announced. Globecomm closed at $14.40 per share Friday. Globecomm's board unanimously approved the purchase and the deal should close in the fourth quarter of 2013. One industry observer called the deal a good way for the private equity firm to gain a foothold in the cutting edge of the telecom world. "