[Satellite Today 12-12-08] EMS Technologies has signed a definitive agreement to acquire Formation Inc., an airborne wireless network provider, for $40 million, EMS announced Dec. 12.
Under the terms of the deal, Formation has the ability to earn additional purchase price payments of up to $15 million based on its performance in near term succeeding years. EMS said it expects the acquisition to add EBITDA of $5 million to $7 million the first year post-acquisition.
EMS said the transaction represents the latest in a series of strategic acquisitions for the company. “Acquiring Formation signals EMS’s continued investment in its aero-connectivity strategy to become a more comprehensive solutions provider,” said EMS president and CEO Paul Domorski.
By acquiring Formation, EMS obtains a variety of additional customers. Formation is an approved direct supplier to Airbus and also is a major supplier to Rockwell Collins, Aircell and Panasonic.
EMS plans to retain Formation’s current operations in Moorestown, N.J. The parties anticipate the transaction to close by year’s end, subject to customary closing conditions.
EMS Acquires Airline Wireless Manufacturer
GomSpace to Establish New Ukrainian Joint Venture for Sovereign Comms
GomSpace, the Danish satellite company, looks to play a key role in developing sovereign satellite capabilities in Ukraine. It has signed a deal with its Ukrainian partner Stetman which will see […]
Trending Now
-
Government/MilitaryCanada Cancels WildFireSat Constellation Contract With Spire
-
Government/MilitaryFCC Updates EPFD Framework that Covers GEO/NGSO Spectrum Sharing
-
Earth ObservationNRO Makes New Commercial Awards to EarthDaily, Iceye, and Pixxel
-
Government/MilitarySpace Force Awards $3.2 Billion to 12 Companies for Space-Based Interceptor Work
