Hytera to acquire Norsat for US $62M
Norsat International Inc., a provider of unique and customized communication solutions for remote and challenging applications, has agreed to be acquired by Hytera Project Corp., a subsidiary of Hytera Communications Co., Ltd
As previously disclosed by Norsat on March 17, 2017, Privet Fund Management LLP submitted a non-binding letter of interest to acquire Norsat for cash consideration of US $10.25 per share subject to due diligence, financing, the completion of a definitive agreement and other conditions.
Based on Hytera’s offer of the same cash consideration as indicated in Privet’s non-binding letter of interest, with no further due diligence, no financing conditions and the synergies between Norsat and Hytera including but not limited to a greater global sales presence, access to additional markets and research and development collaboration, the Independent Directors of Norsat’s Board of Directors decided to proceed with Hytera arrangement agreement.
About Norsat International Inc.
Founded in 1977, Norsat International Inc. is a provider of unique and customized communication solutions for remote and challenging applications. Norsat’s products and services include leading-edge product design and development, production, distribution and infield support and service of fly-away satellite terminals, microwave components, Radio Frequency (RF) conditioning products, maritime based satellite terminals and remote network connectivity solutions
