04:05 AM EST, 01/07/2025 (MT Newswires) -- Gilat Satellite Networks ( GILT ) said Tuesday it has completed its acquisition of Stellar Blu Solutions, a SATCOM termination services provider, for a cash consideration of $98 million, as adjusted.

The deal is expected to be accretive to Gilat's non-GAAP results this year.

The total consideration for the deal could also increase by up to $147 million in cash, contingent upon achieving operational and strategic milestones over the next two years.

The company said it expects annual revenue from Stellar Blue to range between $120 million and $150 million this year, driven by strong backlog.

Gilat also said it used a new $100 million secured credit line from HSBC Bank USA and Bank Hapoalim to fund the deal, drawing $60 million of the total at closing. The remaining $40 million will be used for potential earn-out payments.