Calian readies for Europe

Article Excerpt

CALIAN GROUP $34.00 (Toronto symbol CGY; TSINetwork Rating: Speculative) (613-599-8600; www.calian.com; Shares outstanding: 7.8 million; Market cap: $265.2 million; Dividend yield: 3.3%) has now agreed to acquire Germany-based SatService. That company offers engineering solutions and products for the satellite communications market. This new business will support the expansion of Calian’s Systems Engineering operations in European markets. SatService’s products include the Sat-NMS line of software and hardware solutions for antenna control and tracking, monitoring and control systems, and L-band transmission. The purchase price is 6.45 million euros ($9.7 million Cdn.), plus two additional payments, in December 2019 and December 2020, that are dependent on the SatService operations achieving certain profit targets. Calian Group is still a buy. buy…