REG - Global Invacom Group - Acquisition of Assets and IP from Apexsat Pte Ltd

Global InvacomAnnouncement

18/06/2019 07:00

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 17th 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: +65 6431 0782
Tel: +44 203 053 3523




 


 




finnCap Ltd (Nominated Adviser and Joint Broker)


www.finncap.com




Christopher Raggett / Matthew Radley (Corporate Finance)


Tel: +44 207 220 0500




 


 




Mirabaud Securities LLP (Joint Broker)


www.mirabaud.com




Peter Krens (Equity Capital Markets)


Tel: +44 207 878 3362




 


 




WeR1 Consultants Pte Ltd (Singapore Investor Relations)


www.wer1.net




Jordan Teo / Ryan del Agua


Tel: +65 6737 4844




ginv@wer1.net


 




 


 




Vigo Communications (UK Media & Investor Relations)


www.vigocomms.com




Jeremy Garcia / Fiona Henson / Charlie Neish


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 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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