Calian Group Ltd. has announced the acquisition of Tallysman Wireless Inc. (Tallysman), a leading manufacturer of precision Global Navigation Satellite Systems (GNSS) antennas, and related components. Tallysman designs, manufactures and sells a very wide range of GNSS, Iridium and Globalstar antennas and related products into a market with a broad range of vertical applications that include precision reference systems, survey, timing, precision agriculture, unmanned and autonomous vehicles, marine and many more. The company also produces cloud based wireless tracking systems over two-way radio systems and 4G category M cellular systems, for applications ranging from school buses to municipal public works.
Tallysman has substantially invested in R&D to produce one of the widest range of GNSS antenna available, and that includes several antenna types that lay claim to being among the most accurate GNSS antennas in world. The company is widely recognized as a technology leader and is the supplier of high precision antennas to a number of leading precision GNSS systems providers.
"The Tallysman product line and services add a complementary component to Calian’s ground-based satellite communications business. It expands Calian’s reach in the Satcom industry to markets requiring smaller antennas used in end-user devices that need a different range of fidelities” said Patrick Thera, President, Advanced Technologies, Calian.
The definitive agreement can be valued at as much as $24.5 million. Amount paid on closing is $15.7 million (net of cash received) and contains two earnout periods of $4M and $4.8M based on the achievement of a certain level of EBITDA performance over the next 30 months. Tallysman’s results will be consolidated and reported with Calian’s Advance Technology segment.
“This important acquisition supports both customer diversification and service line innovation, two key pillars within Calian’s four-pillar growth strategy, stated Kevin Ford, President and Chief Executive Officer, Calian. The Tallysman acquisition demonstrates Calian continued focus on innovation and growth. The wide range of products and applications Tallysman brings to Calian expands its product line and entry into new markets.
Sampford Advisors acted as exclusive M&A advisor to Tallysman.
