GINV.L Share News (GINV)

Sinagpore-based investment group Global Invacom has announced plans to acquire Skyware Global, a US manufacturer of satellite terminals, for up to $11.6m.The group will issue around $6.6m in treasury shares and enter into a cash earn-out model to pay Skyware up to $5.0m.Skyware's vendors will hold 9.9% of Global Invacom following the agreement.The move will position Global Invacom as the world leader in satellite communications equipment in the US, Europe and Asia, it said.For the year ended 31 December 2014, Skyware recorded revenue of approximately $52m.