Calian Group (TSX:CGY) acquires antenna manufacturer

• Calian Group (CGY) has acquired Tallysman Wireless, a manufacturer of antennas for Global Navigation Satellite Systems
• Tallysman’s high-precision GNSS antennas lay claim to being some of the most accurate in the world
• Calian Group believes the acquisition will expand the company’s presence in the satellite communication market 
• The acquisition, worth C$24.5 million, will be paid through C$15.7 million immediate cash, with two earnout payments to follow
• Calian Group (CGY) is down 0.17 per cent and is currently trading at $64.27 per share

Calian Group (CGY) has acquired Tallysman Wireless, a manufacturer of antennas for Global Navigation Satellite Systems.

Tallysman manufactures numerous GNSS, Iridium, and Globalstar antennas, and other related products. The company’s solutions have applications in precision reference systems, survey, timing, precision agriculture, unmanned and autonomous vehicles, marine, and more.

Thanks to substantial investment in research and investment, Tallysman’s range of high-precision GNSS antennas lay claim to being some of the most accurate in the world. 

In addition to manufacturing antennas, Tallysman also produces cloud-based wireless tracking systems over two-way radio systems and 4G category M cellular systems. These products have a wide range of applications, in everything from school buses to municipal public works.

Calian Group believes the acquisition will expand the company’s presence in the satellite communication market. The company intends to complete the acquisition for an aggregate purchase price of C$24.5 million, starting with $15.7 million in cash upon the transaction’s closing. 

The initial payment will be followed by two subsequent earnouts of $4 million and $4.8 million. These earnouts will be based on the achievement of certain levels of EBITDA performance over the next 30 months.

Calian Group’s President and CEO, Kevin Ford, was pleased to welcome Tallysman to the Calian team.

“This important acquisition supports both customer diversification and service line innovation, two key pillars within our four-pillar growth strategy. The Tallysman acquisition demonstrates Calian’s continued focus on innovation and growth.

“The wide range of products and applications Tallysman brings to Calian expands our product line and entry into new markets.

“We are excited with the opportunity to support innovation in exciting growth industries such as autonomous vehicles, precision agriculture, and wearables,” he said.

Calian Group (CGY) is down 0.17 per cent and is trading at $64.27 per share at 12:22pm EDT.