Global Invacom Group Limited Acquisition of Assets and IP from Apexsat Pte Ltd (5273C)
June 18 2019 - 1:00AM
UK Regulatory
TIDMGINV
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 EUR250,000 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 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)
Jordan Teo / Ryan del Agua Tel: +65 6737 4844
ginv@wer1.net
Vigo Communications (UK Media & Investor www.vigocomms.com
Relations)
Jeremy Garcia / Fiona Henson / Charlie Tel: +44 207 390 0238
Neish
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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END
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