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ViaSat Acquires Software Compression Firm ICT |
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CARLSBAD, Calif., Feb. 23, 2007/Satnews Daily/ ― ViaSat, Inc. (Nasdaq:VSAT), a producer of satellite and other wireless communication products, has acquired Intelligent Compression Technologies, Inc. (ICT), a supplier of data compression software, in a cash and stock transaction. Massachusetts-based ICT provides corporations, Internet service providers (ISPs) and satellite/wireless carriers with patented data compression techniques, advanced transport protocols and application optimization to substantially increase the speeds of either narrowband or broadband terrestrial, wireless or satellite services. The company's main product, AcceleNet, is a WAN/wireless data acceleration product that optimizes Web and email applications over slow or long-latency data links. ViaSat paid some $20 million ($6.5 million of cash and 416,727 shares of ViaSat common stock) for ICT. It will also pay an additional amount of up to $34.3 million in cash and/or stock based on ICT meeting certain financial performance targets over the next two years. "This acquisition complements virtually all of our satellite and data link networks with leading edge compression and acceleration technologies," said Mark Dankberg, ViaSat chairman and CEO. "We've found that the ICT AcceleNet family of products substantially speeds web browsing and accelerates leading office applications, while simultaneously reducing network congestion. These benefits can extend to any of our consumer, enterprise or government customers." ICT president Michael Slygh said ViaSat has a technology and business culture where its business and people can thrive, and there are many opportunities for ICT to successfully grow its business while also applying its talents to give ViaSat products an additional advantage in the marketplace. ICT is a privately-held company that began as a supplier of data compression software embedded into software products of licensees, including industry leaders in new media software for accelerating traffic over wired and wireless networks. ViaSat produces satellite and other communication products that enable fast, secure and efficient communications to any location. The company provides networking products and managed network services for enterprise IP applications; is a key supplier of network-centric military communications and encryption technologies to the U.S. government; and is the primary technology partner for gateway and customer-premises equipment for consumer and mobile satellite broadband services.
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