ORLAND PARK, Ill.-Andrew Corp. said it plans to acquire German broadband satellite network electronics manufacturer Skyware Radio Systems GmbH.
Andrew said that under terms of the agreement, it plans to pay around $9 million in cash for the company, an amount that could increase if the business reaches certain financial performance goals over a two-year period. Privately held Skyware generated approximately $12 million in sales within European, Middle Eastern and African markets last year.
“Skyware’s capabilities are a perfect match with Andrew’s existing antenna products, global customer reach, and manufacturing and sourcing capabilities,” said Jude Panetta, group president of Satellite Communications at Andrew. As part of the transaction, Skyware’s approximately 40 employees located in Krefeld, Germany, and Stockport, England, will join Andrew’s Satellite Communications Group, which had sales of $140 million in fiscal 2005. The sale is subject to review by German antitrust authorities.
