[Satellite TODAY 01-20-11] Canadian broadband communications solutions provider Norsat International has entered into a definitive agreement to acquire antenna and RF conditioning product developer Sinclair Technologies for $19.2 million, Norsat announced Jan. 19.
    Norsat will finance the transaction with $4.75 million in cash, $12 million in debt financing from its principal banker, and 4 million common shares issued from its treasury. The company said the majority will be paid upfront with the remaining portion being held in escrow and earned out over a period of two years. 
    Norsat CEO Aimee Chan said the acquisition will benefit the company’s expansion in the military arena and provide research and development synergies for its other wireless products. “The acquisition of Sinclair is a perfect complement to our core businesses and keeps to the focal point of our mission of becoming a premier provider of broadband communications solutions for remote and austere regions. In addition, Sinclair will help diversify our markets into the commercial space and into the municipal government level,” she said in a statement.
   The acquisition is anticipated to close later this month.