(Alliance News) - Satellite communications equipment provider Global Invacom Group Ltd said Tuesday it has acquired assets from Apexsat Pte Ltd for EUR250,000 in cash.
Apexsat designs and manufactures steerable earth station products and motorised antenna systems. The company has developed its own command and control systems, with tracking and positioning software.
The acquisition includes the assets and intellectual property of Apexsat, which will be integrated into Global Invacom's antenna manufacturing subsidiary.
The acquisition will allow Global Invacom to manufacture products for the Low Earth Orbit and Medium Earth Orbit satellite communications market, it said, and will contribute to financial performance in the first full-year of ownership.
"This is an excellent example of how Global Invacom can continue to broaden its product base alongside securing valuable IP which we believe will underpin further product development. Furthermore, we believe that by integrating the Apexsat technology into Global Invacom, we will be able to upscale the existing Apexsat and Global Invacom customer base through the delivery of high quality, bespoke products," said Executive Chair Tony Taylor.
Shares in Global Invacom were untraded in London on Tuesday, last quoted at 7.00 pence.