Chinese company Hytera Communications acquires Norsat International for US$68 million

Image courtesy of Hytera

Yesterday, Hytera Communications, a provider of Professional Mobile Radio (PMR) communications solutions founded in Shenzhen, China, announced that it has acquired Canadian satellite communications company Norsat International.

Norsat was acquired for approximately US$68 million, through the purchase of all of the issued and outstanding shares of Norsat at US$11.50 per common share. Following this, Norsat’s common shares will be suspended from the NYSE-MKT prior to its opening on July 20, 2017. Trading will officially cease on NYSE on July 31 2017, and on the Toronto Stock Exchange (TS) on July 25 2017.

Mr. Qingzhou Chen, Chairman of Hytera, stated, “We are pleased to welcome the Norsat team and suite of products to the Hytera family. Norsat’s antenna and filter products are very complementary to our existing business and we are excited by Norsat’s innovative satellite products and the prospects of the satellite communications industry. We believe the addition of Norsat will create new opportunities for long-term growth.”

Dr. Amiee Chan, President and CEO of Norsat, added, “We would like to take this opportunity to thank the past directors, past shareholders, management, employees, customers and other stakeholders for their support. We are thrilled to join the Hytera family and we look forward to serving all of our worldwide customers with an even broader platform of innovative products to meet their stringent requirements for communication solutions.”

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