CALGARY, Alberta, 19 Sept. 2007.NovAtel Inc., a precise positioning technology company, has acquired privately-held Antcom Corp., located in Torrance, Calif. Antcom is a communication company that specializes in the design, development, and manufacturing of antenna and microwave products for military and commerical customers in the space, ground, and avionics telecommunications markets.
Under the terms of the agreement, NovAtel will acquire Antcom for $5 million in cash and an additional $1 million in cash subject to Antcom's achievement of certain financial targets for the calendar year ended December 31, 2007.
Antcom will continue to operate in Torrance, and sell products under the Antcom brand. Antcom will be operating in a business-as-usual fashion and customers and suppliers should expect no changes or disruptions in service or changes in their Antcom contacts.
