What Happened
Israeli Firm Expands Defense Capabilities In $157 Million Deal
Gilat Satellite Networks is expanding its defense capabilities by acquiring Comtech’s satellite ground infrastructure solutions and other space communications equipment assets for $157.5 million. The acquisition, which includes anti-jam tactical modems and satellite ground systems, is expected to increase Gilat’s annual revenue to more than $700 million. The deal follows a failed merger attempt between the two companies six years ago. According to SpaceNews, the acquisition is part of Gilat’s strategy to grow its defense business and increase its presence in the US market.