OTTAWA, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Calian Group Ltd. (TSX: CGY) is pleased to announce it has acquired 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 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 GNNS systems providers.
“Calian welcomes Tallysman to our team. The Tallysman product line and services add a complementary component to our ground-based satellite communications business. It expands Calian’s reach in the satcom industry to markets requiring smaller antenna used in end-user devices that need a different range of fidelities.” said Patrick Thera, President, Advanced Technologies, Calian. “GNSS is one of the fastest growing markets for satellite ground systems and we are excited to join forces with a leader in this field.”
“We are extremely pleased to join the Calian team.” said Gyles Panther President and CTO, Tallysman. “we look forward to continuing, profitable growth of our core GNSS businesses with market leading products that we sell to a broad customer base. As a member of the Calian family we also look forward to leveraging additional resources, new technologies and markets deriving from Calian’s deep expertise in satellite communications”
The definitive agreement is valued at up $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.
“Tallysman has shown consistent profitable revenue growth as they have expanded their network across the globe” said Patrick Houston. “With a growing product portfolio of class leading precision and custom GNSS antenna’s, they are poised to maintain their growth momentum as part of Calian.”
“This important acquisition supports both customer diversification and service line innovation, two key pillars within our four-pillar growth strategy,” stated Kevin Ford, President and Chief Executive Officer, Calian. “The Tallysman acquisition demonstrates Calian continued our focus on innovation and growth. The wide range of products and applications Tallysman brings to Calian expands our product line and entry into new markets. We are excited with the opportunity to support innovation in exciting growth industries such as autonomous vehicles, precision agriculture and wearables. We could not be more pleased to welcome Tallysman to the Calian team.”
Sampford Advisors acted as exclusive M&A advisor to Tallysman.
About Tallysman Wireless Inc
Tallysman® is a developer, manufacturer, and provider of GNSS, Iridium and Globalstar antennas and accessories in support of customers who are engaged in a broad range of satellite-based positioning, navigation, and data applications.
Based in Ottawa Canada, Tallysman is focused on high function, high performance technology and solutions. Our core competencies include digital wireless networks, RF and Global Navigation Satellite Systems (GNSS) component design.
Tallysman is known for its Accutenna® and VeraPhase® technology, as well as its recently introduced VeroStarTM and Helical innovations. These technologies have been shown to provide the highest performance antennas (low axial ratios, high multi-path signal rejection, tight PCV) in their size and weight, at economical price points. Tallysman’s antennas are the antennas of choice for a wide variety of applications.
About Calian Advanced Technologies
Calian Advanced Technologies solutions include satellite gateways and infrastructure for RF communications, telemetry, tracking and control systems, space science and earth observation. Calian also provides leading-edge communication products for terrestrial and satellite networks. In addition, we enable our commercial and defence customers to deliver reliable, high-quality products and systems by providing them with superior electronics engineering, manufacturing and test services. One of our key markets is satellite RF ground systems solutions for customers that have complex technical requirements. Our customers are leaders in their industries providing systems tailored to meet their demanding requirements, with practical solutions, delivered on time and on budget.
Calian employs over 3,400 people in its delivery of diverse products and solutions for private sector, government and defence customers in North American and global markets. The Company’s diverse capabilities are delivered through four segments: Advanced Technologies, Health, Learning and Information Technology. The Advanced Technologies segment provides innovative products, technologies and manufacturing services and solutions for the space, communications, defence, nuclear, government and agriculture sectors. The Health segment manages a network of more than 1,800 health care professionals delivering primary care and occupational health services to public and private sector clients across Canada. Learning is a trusted provider of emergency management, consulting and specialized training services and solutions for the Canadian Armed Forces and clients in the defence, health, energy and other sectors. The Information Technology segment supports public- and private-sector customer requirements for subject matter expertise in the delivery of complex IT and cyber security solutions. Headquartered in Ottawa, the Company’s offices and projects span Canada and international markets.
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Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.
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