Global Invacom Group Limited Acquisition of Assets from Skyware Technologies (7680Z)
September 05 2018 - 2:00AM
UK Regulatory
TIDMGINV
RNS Number : 7680Z
Global Invacom Group Limited
05 September 2018
5 September 2018
Global Invacom Group Limited
("Global Invacom", the "Company" or the "Group")
Acquisition of Assets and Development Team from Skyware
Technologies
Global Invacom (SGX: QS9) (AIM: GINV), the global provider of
satellite communications equipment, is pleased to announce the
acquisition, in the ordinary course of business, of certain assets
together with the associated IP, R&D team and inventory from a
number of companies across the Skyware Technologies Group*
(together "Skyware Technologies") (the "Acquisition").
The Acquisition is for an initial cash consideration of $3.1m,
with a further $0.3m to be provided as product, and a maximum
additional $0.5m payable on delivery of revenue related earn-out
targets. The consideration will be funded from existing cash
resources on a debt-free basis.
Skyware Technologies designs and manufactures integrated
transmitter/receivers for data over satellite ("DOS") applications.
The Group already has a leading position in DOS antennas and this
acquisition will allow the Group to offer its customers the total
DOS terminal solution. The Group is already unique in being able to
offer reception electronics (Low Noise Blocks) and antennas for the
Direct to Home market and the acquisition will allow the Group to
extend this same unique position to the fast-growing DOS
market.
The Acquisition is expected to contribute to the financial
performance of the Group in the first full year of ownership.
Trevor Gordon, Managing Director and Senior Vice-President of
Skyware Technologies, will remain with the business post
acquisition, along with the UK research and development team, based
in Stockport.
* Skyware Technologies Group comprises Skyware Technologies
(Ireland) Ltd, Skyware Technologies (UK) Ltd, Skyware Radio Systems
GmbH and Skyware Technologies Asia Inc.
Tony Taylor, Executive Chairman of Global Invacom,
commented:
"We are delighted to announce the asset acquisition of Skyware
Technologies, which we believe will enable us to provide a complete
antenna and electronics product set to customers across the data
over satellite market.
There is a significant opportunity across this market, driven by
the demand for connectivity in developing countries and rural
communities and where fibre or cable is not a viable solution,
satellite broadband is now a highly attractive alternative."
For further information, please contact:
Global Invacom Group Limited www.globalinvacom.com
Matthew Garner, Chief Financial Officer Tel: +65 6431 0782
Tel: +44 203 053 3523
finnCap Ltd (Nominated Adviser and Joint www.finncap.com
Broker)
Christopher Raggett / Matthew Radley (Corporate Tel: +44 207 220 0500
Finance)
Mirabaud Securities LLP (Joint Broker) www.mirabaud.com
Peter Krens (Equity Capital Markets) Tel: +44 207 878 3362
WeR1 Consultants Pte Ltd (Singapore Investor www.wer1.net
Relations)
Lai Kwok Kin Tel: +65 6737 4844
ginv@wer1.net
Vigo Communications (UK Media & Investor www.vigocomms.com
Relations)
Jeremy Garcia / Fiona Henson Tel: +44 207 390 0238
ginv@vigocomms.com
About Global Invacom Group Limited
Global Invacom is a fully integrated satellite equipment
provider with six manufacturing plants across China, Israel,
Malaysia, UK and the US. Its customers include satellite
broadcasters such as BSkyB of the UK and Dish Network of the
USA.
Global Invacom provides a full range of antennas, LNB receivers,
fibre distribution equipment, transmitters, switches and video
distribution components and electronics manufacturing services in
satellite communications as well as manufacturing services in
military, medical, and consumer electronics industries. Following
the acquisition in 2015 of Global Skyware, a leading US-based
designer and supplier of satellite antennas products and services,
the Company became the world's only full-service outdoor unit
supplier.
Global Invacom is listed on the Mainboard of the Singapore
Exchange Securities Trading Limited and its shares are admitted to
trading on the AIM Market of the London Stock Exchange.
For more information, please refer to www.globalinvacom.com
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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contact rns@lseg.com or visit www.rns.com.
END
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