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ViaSat Acquires Enerdyne
Carlsbad CA (SPX) Jun 26, 2006 ViaSat announced Friday it has acquired Enerdyne Technologies Inc., a privately-held provider of video data link equipment and digital video systems for defense and intelligence markets, primarily for unmanned-aerial-vehicle applications. The acquisition will combine ViaSat expertise and technology with Enerdyne's successful video data link business to expand ViaSat's offerings into growing Department of Defense markets for persistent video surveillance and video data links, the company said in a news release. Terms of the acquisition include initial consideration of approximately $17.0 million (approximately $16.4 million in ViaSat common stock and $600,000 in cash) with additional consideration of approximately $8.7 million to be paid in common stock and/or cash based on Enerdyne meeting certain financial performance targets within the next four years. In the first year, the acquisition is expected to be non-dilutive to non-GAAP earnings, which excludes the effects of acquisition charges related to the amortization of intangible assets and the expense impact associated with FAS123R, for ViaSat. However, ViaSat has not completed its valuation analysis and, accordingly, has not determined the impact to GAAP earnings. "Enerdyne has strong leadership and an excellent technical staff that has built a successful business by innovating new products and services to help solve complex defense intelligence issues. We are really excited about adding the capabilities of that team to ViaSat," said Mark Dankberg, ViaSat chairman and chief executive officer. "The acquisition represents a unique opportunity to complement their products with our technology and deliver additional video products to our defense clients." "We've worked hard to develop the kind of video data links that our armed forces need, and with ViaSat as our corporate parent, we feel confident that we now have the market presence and backing required to satisfy the demand for this equipment," said Brandon Nixon, Enerdyne's CEO. "We're thrilled to become part of a company with ViaSat's capability and reputation." Since its inception in 1984, Enerdyne has provided military-qualified video compression systems for intelligence, surveillance, and reconnaissance applications. In recent years, Enerdyne has expanded its product offering to provide highly integrated video data link equipment for the special operations forces and intelligence market, the UAV industry, and other DoD applications. Enerdyne's government programs include direct DoD contracts and other subcontracts with major U.S. defense companies such as Lockheed Martin, L3 and DRS, and international firms such as Tadiran and Rafael. Community Email This Article Comment On This Article Related Links ViaSat Enerdyne VSAT News - Suppliers, Technology And Applications
Telenor Adds New Satellite Terminals To Its Portfolio
Oslo, Norway (SPX) Jun 26, 2006Telenor Satellite Services, a subsidiary of Telenor of Norwaym, announced Friday it will add the Wideye SABRE 1 Broadband Global Area Network satellite terminal and accessories to its portfolio of on-demand communications technologies. |
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