Gilat Scoops Up Wavestream In $130M Deal

Law360, New York (October 13, 2010, 12:44 PM EDT) -- Gilat Satellite Networks Ltd. has reached an agreement to acquire high-power solid-state amplifier provider Wavestream Corp. in a deal valued at $130 million.

Under the agreement announced Wednesday, Gilat will acquire all outstanding stock of Wavestream in an all-cash deal expected to be completed by the end of the year. The purchase also includes an earn-out payment over the next 12 months of up to $7 million.

Israel-based Gilat said it expects to complete the transaction with the cash it has on hand, but noted that...
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