[SatNews] Gilat Satellite Networks Ltd. (Nasdaq:GILT has completed its previously announced acquisition of Wavestream Corporation.

Wavestream, a leading provider of high power solid state amplifiers, was acquired for approximately $130M and an earn-out over the next 12 months of up to $6.8M. Wavestream's family of Ka-, Ku-, X- and C-band Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) provide systems integrators with field-proven, high performance solutions designed for mobile and fixed satellite communication (SATCOM) systems worldwide. The company's products have been selected as key components in a number of DoD programs and it has an extensive tier-1 customer list of DoD system integrators. Gilat expects to leverage Wavestream's technology and sales reach to further enhance its market position in the government sector. Wavestream is expected to generate revenues of approximately $70 million in 2010 and have a positive EBITDA of between 15 and 20 percent. The acquisition is expected to be accretive.