EMS Technologies, Inc. (NASDAQ:ELMG) has signed a definitive agreement to acquire Formation, Inc., a provider of airborne wireless network products that enable in-flight passenger communications with terrestrial and satellite networks.

This announcement represents the latest in a series of strategic acquisitions to strengthen EMS’s position as a leading mobile broadband and asset tracking solutions provider. The acquisition would bolster EMS’s aero-connectivity capabilities, enabling a far-reaching solution for passenger mobile access in the cabin. EMS’s purchase price for Formation is $40 million, with the acquired company having the ability to earn additional purchase price payments of up to $15 million based on its performance in near term succeeding years. EMS expects the acquisition to be accretive and to add EBITDA of $5 million to $7 million the first year post-acquisition.

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