Global Invacom acquires certain assets of satellite electronics firm Skyware Technologies

Global Invacom executive chairman Tony Taylor says that there is a significant opportunity across the data-over-satellite market.
Global Invacom executive chairman Tony Taylor says that there is a significant opportunity across the data-over-satellite market.PHOTO: SGX

Satellite communications equipment provider Global Invacom has acquired certain assets of Skyware Technologies Group, together with the associated intellectual property, research and development teams and inventory from a number of companies across the group.

The acquisition consists of an initial cash payment of $3.1 million, with a further $300,000 to be provided as product, and a maximum additional $500,000 payable on delivery of revenue-related earn-out targets.

The consideration will be funded from existing cash resources, the mainboard-listed firm announced in a pre-market statement yesterday.

Global Invacom added: "The group already has a leading position in DOS antennas and this acquisition will allow the group to offer its customers the total DOS terminal solution."

Executive chairman Tony Taylor said the acquisition of British-based Skyware Technologies will enable the firm to provide a "complete antenna and electronics product set to customers across the data-over-satellite market".

"There is a significant opportunity across this market, driven by the demand for connectivity in developing countries and rural communities, and where fibre or cable is not a viable solution, satellite broadband is now a highly attractive alternative."


Correction note: The story has been amended to reflect Global Invacom's acquisition of certain assets of Skyware Technologies Group - together with the associated intellectual property, research and development teams and inventory from a number of companies across the group - instead of the company in its entirety as mentioned earlier. 

A version of this article appeared in the print edition of The Straits Times on September 06, 2018, with the headline 'Global Invacom buys UK satellite electronics firm Skyware Tech'. Print Edition | Subscribe