Gilat enters deal to acquire RaySat
Gilat Satellite Networks Ltd. announced plans to acquire U.S. company and military satellite communications technologies developer Raysat Antenna Systems.
Israel's company Gilat says it entered into a deal to purchase RAS, a developer of mobile satellite antenna technologies, to strengthen its footprint in the security and defense satellite communications market.
Under the acquisition deal worth approximately $25 million, the U.S. unit of RAS will become part of Gilat's Spacenet Integrated Government Solutions subsidiary. Officials say the acquisition is expected to be completed before October.
"With this acquisition, we plan to bring together two innovative leaders in the industry with complementary technologies," Amiram Levinberg, Gilat chairman and chief executive officer, said in a statement.
"We believe that this partnership will lead to a new level of high-speed, highly mobile communications for the military, emergency response organizations and other markets with a need for fast, flexible, on the move communications."