UK-based Vislink, a provider of secure communications products and services, has acquired the assets of Gigawave, a maker of wireless camera, microwave and antenna products for the broadcast market, for approximately $6.1 million in cash. The deal was announced last week but was agreed to on June 2.
Based in Colchester, Essex, UK, Gigawave is privately owned and employs 87 people.
Vislink said the acquisition would strengthen its engineering, product portfolio and geographic reach within the broadcast market. Gigawave will be integrated into the Vislink’s UK operations. Henry Barczynski, Gigawave's founder and current managing director, will serve as chief marketing officer for the new division and will report to John Hawkins, Vislink chairman and CEO.
In a statement Hawkins said he expects the acquisition to be profitable in a year and that the combined Gigawave and Vislink teams will collaborate on product development, distribution and sales opportunities.
For the financial year that ended April 30, 2010, Gigawave generated sales of $20.5 million and a loss before tax of more than $1.5 million. As of April 30, 2010, Gigawave had audited gross assets of $8.7 million. For the year Gigawave generated sales of more than $16 million, and claimed assets of nearly $8 million.
Among Gigawave’s products, the HD D-Cam digital (COFDM DVB-T) wireless camera transmitter is used by broadcasters producing major sporting events. Operating in the 1.3GHz-7.5GHz band, it offers data rates of from 4.98Mb/s to 31.7Mb/s and a latency of less than two frames.