Satnews Daily
December 31st, -0001

Acquiring Minds Want To Know... EMS + SkyConnect

EMS Tech + SkyConnect logos EMS Technologies, Inc. (NASDAQ:ELMG) has signed a definitive agreement to acquire Sky Connect LLC. of Takoma Park, Maryland, for approximately $15.5 million, subject to customary closing conditions. Additional purchase price payments may be earned based on near-term performance of the Sky Connect business. The acquisition is intended to enable EMS to build an Iridium services-based business, complementing the Company's offerings serving the commercial and military aviation markets. The Company expects the acquisition to be accretive in 2008, but not to materially affect EMS's financial performance for 2008. Sky Connect, founded in 2003, offers Iridium-based combined tracking and voice systems for general aviation, with certified systems flying on over 2,000 aircraft. Sky Connect doubled its sales from 2005 to 2007, and is forecast to grow by more than 25 percent in 2008. Its business currently focuses on the helicopter market supporting offshore oil and gas exploration and production, where it is the lead supplier in the Gulf of Mexico. Other market segments Sky Connect serves include forest-fire fighting, emergency medical transport, law enforcement as well as commercial airlines.