09:31 AM EDT, 06/17/2024 (MT Newswires) -- Gilat Satellite Networks ( GILT ) said Monday that it has agreed to acquire Stellar Blu Solutions, an avionics solution provider of satcom terminal solutions.

Gilat said it will make an initial cash payment of $98 million at closing, which is expected to take place in H2, and up to an additional $147 million in cash, subject to the achievement of post-close business and financial goals.

Gilat said the acquisition of Stellar Blu is expected to be accretive beginning H2 of 2025 on a non-GAAP basis.

Price: 5.00, Change: -0.24, Percent Change: -4.58