ViaSat Acquires Swiss-based JAST Antenna Systems
ViaSat Inc., a producer of innovative satellite and other digital communication products, has agreed to acquire privately-held JAST Antenna Systems. JAST develops microwave circuits and antennas for terrestrial and satellite applications, specializing in small, low-profile antennas for mobile satellite communications.
Terms of the transaction include an initial purchase price of approximately $2 M and additional consideration of up to $4.5 M to be paid in cash and/or stock based on JAST meeting certain financial performance and technology development targets over the next two years. The acquisition is expected to have no material impact to ViaSat non-GAAP (pro forma) earnings during the next 12 months. However, ViaSat has not completed its valuation analysis and, accordingly, has not determined the impact to GAAP earnings. The acquisition is expected to be completed within 30 days.
"ViaSat has been working on a number of attractive market opportunities in mobile satellite and terrestrial communication markets," said Mark Dankberg, ViaSat chairman and CEO. "JAST has expertise, innovative technology and market relationships that improve our competitive position in these markets. And, their location in Switzerland can help us better support our European partners and initiatives."
"Becoming part of ViaSat opens up many new possibilities for our antenna technologies and the strong complementarity of the technologies will strengthen our position in the worldwide market," said Ferdinando Tiezzi, JAST managing director. "We share a common culture of innovation and vision in the future of mobile satellite communications. The new strength this merger brings us will be especially valuable in further advancing our mobile antenna technology and capturing market share going forward."