Gilat Completes Purchase of Wavestream for $130M
Satellite ground terminal and services provider Gilat Satellite Networks Ltd. said Nov. 29 it had completed its $130 million acquisition of Wavestream Corp., a San Dimas, Calif.-based company that manufactures solid-state power amplifiers for satellites.
Petah Tikva, Israel-based Gilat said Wavestream is expected to generate approximately $70 million in revenue for 2010 with a gross profit margin of between 15 and 20 percent.
Wavestream will operate as a separate business unit, Gilat said in a press release. Cliff Cook will remain Wavestream’s chief executive officer, reporting to Gilat Chief Executive Aviram Levinberg.
Wavestream manufactures Ka-, Ku-, X- and C-band solid-state power amplifiers and block upconverters for defense and broadcast satellite communication systems.