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Norsat International Inc., a leading provider of innovative communication solutions that enable the transmission of data, audio and video for challenging applications and environments, announced that it has closed a definitive agreement to acquire certain business assets and assume certain liabilities of a U.S.-based satellite communication systems company. Norsat will pay US$530,170 and will finance the transaction with cash from operations.
The acquired assets include new products and associated IP that align with Norsat’s existing product roadmap and allow Norsat to immediately enter new and additional areas within the satellite communications markets with solid state power amplifiers (SSPAs), high power block upconverters (BUCs), SATCOM baseband kits and Microsatellite terminals (terminals with antenna sizes below 1 metre).
“This is an exciting development for Norsat which will advance our core business by augmenting our product portfolio and enhancing intellectual property (IP) for our Satellite Solutions and Microwave business units," said Dr. Amiee Chan, President and CEO of Norsat.
“Strategically, this acquisition is consistent with Norsat's ongoing growth strategy. Through it, we will broaden our portfolio of products and services, and the solutions we provide to customers. The expanded sales team and larger product range it brings will enable us to address new market opportunities in the US and around the world. Accordingly, we believe the acquisition will create strong value and has the potential to be accretive to shareholders,” added Chan.
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