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31
May
2012

Ultra acquires Giga Communications

Ultra Electronics has acquired Giga Communications and its iassociated businesses in Australia and the USA.
The deal was made for an initial cash consideration of 15.5 million euros. Additional payments of up to 30.7 million euros will be payable subject to earnings growth over the next two years.

Ultra acquired Giga, a privately-held British company based in Tring, Hertfordshire, UK, from its founder, Chris Lay, and two other shareholders. Chris Lay will stay with the business.

Giga develops, manufactures, sells and supports fixed, mobile and transportable satellite earth stations, or satcom terminals, offered in several forms that operate in the most commonly used frequency bands for satellite communications.

The company will continue to operate from its existing facilities as a bolt-on acquisition within Ultra's Tactical & Sonar Systems Division and will be known as Ultra Electronics, GigaSat.
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