Acquisition of Assets and IP from Apexsat Pte Ltd

RNS Number : 5273C

Global Invacom Group Limited

18 June 2019

 

Global Invacom Group Limited

("Global Invacom", the "Company" or the "Group")

Acquisition of Assets and IP from Apexsat Pte Ltd

Global Invacom (SGX: QS9) (AIM: GINV), a global provider of satellite communications equipment, is pleased to announce the acquisition of the technology of the Apexsat group of companies on 17^th June 2019. This includes the assets and intellectual property ("IP") from Apexsat Pte Ltd ("Apexsat") (the "Acquisition").

This acquisition will enable Global Invacom to manufacture products for the upcoming Low Earth Orbit ("LEO") and Medium Earth Orbit ("MEO") satellite communication constellations market and SATCOM On The Pause (SOTP) tracking two ways systems.

Apexsat specialises in the design and manufacture of steerable earth station solutions, and motorised and transportable antenna systems. Apexsat has developed its own multifunctional command and control systems with integrated tracking and positioning software. The software is widely recognised as one of the most technologically advanced in the industry. 

The systems have their own fibre based, multi-functional command and control systems in addition to rotation and elevation systems, tailored for tracking Inclined Orbit, LEO, MEO satellites as well as being suitable for UAV tracking.

The Acquisition will broaden Global Invacom's product suite and enable the Group to address the entire global market for upcoming LEO and MEO satellite communication constellations.  Apexsat's high-speed integrated mechanisms will also allow the Group to use its full range of Ka Band antennas across auto pointing and auto acquiring applications.

The Acquisition is expected to contribute to the financial performance of the Group in the first full year of ownership. The consideration of €250,000 which was arrived at following arm's length discussions, will be paid in cash on completion and Apexsat will be integrated into Global Invacom's existing, wholly-owned, antenna manufacturing subsidiary in Accrington, United Kingdom.

Tony Taylor, Executive Chairman of Global Invacom, commented:

"We are delighted to be announcing a highly strategic acquisition which brings talent, expertise and knowhow into our business.  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."

For further information, please contact:

Global Invacom Group Limited	www.globalinvacom.com
Matthew Garner, Chief Financial Officer	Tel: [phone] Tel: [phone]
finnCap Ltd (Nominated Adviser and Joint Broker)	www.finncap.com
Christopher Raggett / Matthew Radley (Corporate Finance)	Tel: [phone]
Mirabaud Securities LLP (Joint Broker)	www.mirabaud.com
Peter Krens (Equity Capital Markets)	Tel: [phone]
WeR1 Consultants Pte Ltd (Singapore Investor Relations)	www.wer1.net
Jordan Teo / Ryan del Agua	Tel: [phone]
[e-mail]
Vigo Communications (UK Media & Investor Relations)	www.vigocomms.com
Jeremy Garcia / Fiona Henson / Charlie Neish	Tel: [phone]
[e-mail]

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 and Data over Satellite providers including Hughes Network Systems, Viasat and Gilat Satellite Networks.

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 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

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